CGS 2518 MIDTERM EXAM ( Q2 ) QUESTIONS AND ANSWERS
The PMT function is based on _________. - CORRECT ANSWER✅✅constant payments and a constant
interest rate
In the IF function, the Logical_test argument always includes a _______ operator. - CORRECT
ANSWER✅✅Comparison
The _______ argument of the PMT function is the future value of the loan. Excel assumes a value of 0
unless you include the argument and specify a different value. - CORRECT ANSWER✅✅FV
Cell A1 contains the cost of a face value concert ticket. However, purchasing the ticket adds a 20%
convenience fee to the cost, plus a flat $5 service fee. So for instance, a $100 face value ticket would
cost a total of $125 with fees. Which formula would be used to compute the total cost? - CORRECT
ANSWER✅✅=A1 * 20% + 5 + A1
For which values is the formula =AND( A1>5, OR( A2>5, A3<5 ) )true? - CORRECT ANSWER✅✅A1 = 6, A2
= 6, A3 = 6
Assuming that cell A1 contains the location of an employee, and cell B1 contains the employee's current
salary, which formula could reasonably be used to calculate a 5% increase for employees working from
New York or from San Francisco with all other employees receiving no salary increase? - CORRECT
ANSWER✅✅=IF( OR( A1="NY", A1="SF"), B1*5%, 0 )
What happens to your worksheet after selecting the Delete Sheet Rows option? - CORRECT
ANSWER✅✅The selected row(s) will be deleted and the rows below will shift up.
Splitting your worksheet will undo the _______ command. - CORRECT ANSWER✅✅Freeze Panes
To rename a worksheet in a workbook, right-click the worksheet tab, and select _______. - CORRECT
ANSWER✅✅rename
A _______ is text that appears at the top of every page. - CORRECT ANSWER✅✅Header
The PMT function is based on _________. - CORRECT ANSWER✅✅constant payments and a constant
interest rate
In the IF function, the Logical_test argument always includes a _______ operator. - CORRECT
ANSWER✅✅Comparison
The _______ argument of the PMT function is the future value of the loan. Excel assumes a value of 0
unless you include the argument and specify a different value. - CORRECT ANSWER✅✅FV
Cell A1 contains the cost of a face value concert ticket. However, purchasing the ticket adds a 20%
convenience fee to the cost, plus a flat $5 service fee. So for instance, a $100 face value ticket would
cost a total of $125 with fees. Which formula would be used to compute the total cost? - CORRECT
ANSWER✅✅=A1 * 20% + 5 + A1
For which values is the formula =AND( A1>5, OR( A2>5, A3<5 ) )true? - CORRECT ANSWER✅✅A1 = 6, A2
= 6, A3 = 6
Assuming that cell A1 contains the location of an employee, and cell B1 contains the employee's current
salary, which formula could reasonably be used to calculate a 5% increase for employees working from
New York or from San Francisco with all other employees receiving no salary increase? - CORRECT
ANSWER✅✅=IF( OR( A1="NY", A1="SF"), B1*5%, 0 )
What happens to your worksheet after selecting the Delete Sheet Rows option? - CORRECT
ANSWER✅✅The selected row(s) will be deleted and the rows below will shift up.
Splitting your worksheet will undo the _______ command. - CORRECT ANSWER✅✅Freeze Panes
To rename a worksheet in a workbook, right-click the worksheet tab, and select _______. - CORRECT
ANSWER✅✅rename
A _______ is text that appears at the top of every page. - CORRECT ANSWER✅✅Header
