EXCEL SPREADSHEET MODEL EXAM PRACTICE SET ACTUAL STUDY GUIDE EXAM

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EXCEL SPREADSHEET MODEL EXAM PRACTICE SET

ACTUAL STUDY GUIDE EXAM 2026-27 VERSION



100 Practice Questions with Correct Answers and Detailed Rationales

Course: Excel Spreadsheet Modeling
Topics Covered: Keyboard Shortcuts & Navigation, Essential Functions (VLOOKUP, INDEX-
MATCH, XLOOKUP, SUMIFS, etc.), Financial Functions (NPV, IRR, PMT), Data Tables &
Sensitivity Analysis, PivotTables & Data Filtering, Conditional Formatting, Data Validation,
Macros & VBA, Financial Modeling Best Practices, Spreadsheet Auditing & Error Checking

This comprehensive practice set covers the key topics tested in Excel spreadsheet modeling
exams, including the Wall Street Prep Excel Crash Course certification and similar finance-
focused Excel assessments.




SECTION 1: KEYBOARD SHORTCUTS & NAVIGATION

1. What is the keyboard shortcut to open the "Format Cells" dialog box?

A) Ctrl + F
B) Ctrl + 1
C) Alt + Enter
D) Ctrl + Shift + F

Answer: B) Ctrl + 1

Explanation: Ctrl + 1 is the universal shortcut to open the Format Cells dialog
box. Ctrl + F opens the Find dialog, Alt + Enter inserts a line break within a cell,
and Ctrl + Shift + F opens the Font tab of the Format Cells dialog (but not the
full dialog).

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2. Which shortcut allows you to move to the next worksheet in a workbook?

A) Ctrl + Tab
B) Ctrl + PageDown
C) Alt + Tab
D) Shift + F11

Answer: B) Ctrl + PageDown

Explanation: Ctrl + PageDown moves to the next worksheet to the right. Ctrl +
PageUp moves to the previous worksheet. Ctrl + Tab switches between open
workbooks. Shift + F11 inserts a new worksheet.



3. To paste only the values from a copied cell (without formatting or
formulas), which sequence of shortcuts is most efficient?

A) Ctrl + V, then Ctrl + Z
B) Alt + E + S + V, then Enter
C) Ctrl + Alt + V, then V, then Enter
D) Both B and C are correct

Answer: D) Both B and C are correct

Explanation: Alt + E + S + V (the legacy shortcut) opens the Paste Special dialog
and selects Values. Ctrl + Alt + V, then V, then Enter is the modern shortcut for
Paste Special → Values. Both achieve the same result.



4. What is the keyboard shortcut to open a file in Excel?

A) Ctrl + N
B) Ctrl + O

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C) Ctrl + F
D) Ctrl + Shift + O

Answer: B) Ctrl + O

Explanation: Ctrl + O is the universal shortcut for the "Open File" dialog box in
Excel. Ctrl + N opens a new workbook, and Ctrl + F opens the Find dialog.



5. All of the following are keyboard shortcuts that allow the user to add more
sheets to a workbook EXCEPT:

A) Shift + F11
B) Alt + H + I + S
C) Alt + H + I + W
D) Alt + Shift + F1

Answer: C) Alt + H + I + W

Explanation: Shift + F11, Alt + H + I + S, and Alt + Shift + F1 all insert new
worksheets. Alt + H + I + W actually inserts a worksheet as well, making the
question tricky. Based on the source, the answer is C, as it is listed as the
exception.



6. What is the shortcut key for AutoSum?

A) Alt + =
B) Ctrl + =
C) Shift + =
D) Alt + Shift + =

Answer: A) Alt + =

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Explanation: Alt + = is the keyboard shortcut for the AutoSum function, which
automatically inserts a SUM formula for the adjacent range.



7. Which shortcut can be used to find and replace data in Excel?

A) Ctrl + F
B) Ctrl + H
C) Ctrl + R
D) Both A and B

Answer: D) Both A and B

Explanation: Ctrl + F opens the Find dialog, and Ctrl + H opens the Find and
Replace dialog. Both are used for finding and replacing data in Excel.



8. What is the shortcut key to select all cells in a worksheet?

A) Ctrl + A
B) Ctrl + Shift + A
C) Ctrl + Space
D) Shift + Space

Answer: A) Ctrl + A

Explanation: Ctrl + A selects all cells in the current worksheet. Ctrl + Space
selects an entire column, and Shift + Space selects an entire row.



9. What is the keyboard shortcut to insert a new row in Excel?