Exam (elaborations)
3_financial formulas and lookup functions
- Course
- Institution
3_financial formulas and lookup functions
[Show more]
Content preview
3_financial formulas and lookup functions3.1 Why do you need double quotes in this formula?
=SUMIF(B5:B20,"200000",B5:B20) - ANSWER You don't need double quotes in
this case, so they can be safely deleted
3.2 When is the IFS function MOST useful as a replacement for the normal IF
function? - ANSWER When you have a complex, nested IF statement with
multiple logical tests.
3.3 What is the difference between the COUNT and COUNTA functions? -
ANSWER COUNTA includes all non-blank cells, but COUNT includes only non-
blank cells with numbers.
3.4 Which of the following is NOT allowed when you enter the IRR function in
Excel? - ANSWER A non-negative number as the first entry in the series of
values.
"Zero" cash flow entries denoted by blank cells rather than hard-coded 0's.
A negative number followed by all negatives or 0's and no positives.
3.5 What is one key limitation of the IPMT and PPMT functions? - ANSWER The
interest rate must be fixed.
, 3.6 What is the most appropriate use case for the "Paste Links" command? -
ANSWER Inserting rows of dates into new schedules.
Creating summary pages.
Re-using existing data on another spreadsheet.
3.7 Why is it so important to select the correct cell range when using VLOOKUP
and HLOOKUP? - ANSWER Because these functions only move from left to right
or top to bottom.
Because these functions only search the leftmost column or top row of a range.
Because Excel will not alert you about a mismatched range; it will just generate an
error message.
3.8 When entering the INDEX function in Excel, can you omit the "Column
Number" input at the end of the function? - ANSWER Yes, but only if the
indexed range has 1 column.
3.9 When using INDEX and MATCH to select assumptions based on a scenario in a
financial model, why do you often leave out the Column Number input? -
ANSWER Because the indexed area is typically just 1 column wide.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller StudySet. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
67866 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now