BUSI 520 LATEST 2026 EXAM QUESTIONS AND ANSWERS
RATED A+
✔✔The number of the column containing the data you want to retrieve for the
VLOOKUP function is the _____. - ✔✔col_index_num
✔✔ranges can be named in Excel to make it easier to reference the worksheet when
using formulas or functions. - ✔✔true
✔✔The function =HLOOKUP(F16,Discounts,2,TRUE) retrieves the value in _____. -
✔✔row 2 of the table_array
✔✔Use the _____ function to retrieve a value from a table based on the row and
column numbers specified. - ✔✔index
✔✔When using a VLOOKUP function, the first column of the lookup table that contains
the data you are comparing to your "lookup_value" is/are called the _____. - ✔✔key
data
✔✔Values in a "closest match" vlookup table must be sorted in descending order so
that the VLOOKUP function can make accurate comparisons. - ✔✔false
✔✔The ISBLANK function returns a value of TRUE or FALSE. - ✔✔true
✔✔The function =HLOOKUP(F12,$A$3:$D$10,3,TRUE) retrieves the value from the
third column of the lookup table. - ✔✔false
✔✔The _____ argument of the VLOOKUP function is the type of lookup...the value
should be either TRUE or FALSE. - ✔✔range_lookup
✔✔The VLOOKUP function "looks up" a value and evaluates (compares) it against
values in a lookup_table (the "key data") in order to return a matching "answer." When
constructing a table_array to be used as lookup reference table, the "key data" should
be placed in the _____. - ✔✔leftmost column
✔✔Use _____ to check whether a specified reference or formula returns an empty cell.
- ✔✔isblank
✔✔The range_lookup argument of the VLOOKUP and HLOOKUP functions is the range
of values to be looked up in order to determine the function's result. - ✔✔false
, ✔✔You can only use the VLOOKUP and the HLOOKUP formulas to retrieve data stored
in lookup tables on the same worksheet. - ✔✔false
✔✔"Simple interest" is when you add interest earned each period to the principal and
then use that value to compute interest for the next period. - ✔✔false
✔✔The "values" argument in the formula =IRR(values,guess) is a list of positive and
negative cash flows - ✔✔true
✔✔When using the PMT function, the argument which represents the total number of
periods is _____. - ✔✔nper
✔✔Changing the value in the Nper argument in financial functions will also affect the
interest compoundng frequency - ✔✔true
✔✔When calculating a future value, enter beginning lump sum amounts and beginning
balances in the PV argument box - ✔✔true
✔✔You can define a range name for a value not listed in any worksheet. - ✔✔true
✔✔_____ is the process by which a company spreads the expense of an asset over its
useful life. - ✔✔depreciation
✔✔In financial functions, if the Type argument is left blank, the function will assume that
payments will start at end of the first payment period. - ✔✔true
✔✔The equivalent yearly simple interest rate that takes into account compounding is
the _____ - ✔✔annual percentage yield
✔✔The lower the net present value (NPV), the more profitable the project. - ✔✔false
✔✔When making loan payments, as the principal owed on the loan is slowly lowered,
the proportion of the payment amount applied to interest increases. - ✔✔false
✔✔The _____ is the time it will take to earn sufficient profits so that the loan can be
repaid. - ✔✔payback period
✔✔In order to calculate the Future Value of a stream of monthly cash flows which start
immediately, and also include an additional lump sum at the beginning of the
transaction, the value in the PMT argument should equal the Lump Sum amount plus
the monthly Payment amount. - ✔✔false
RATED A+
✔✔The number of the column containing the data you want to retrieve for the
VLOOKUP function is the _____. - ✔✔col_index_num
✔✔ranges can be named in Excel to make it easier to reference the worksheet when
using formulas or functions. - ✔✔true
✔✔The function =HLOOKUP(F16,Discounts,2,TRUE) retrieves the value in _____. -
✔✔row 2 of the table_array
✔✔Use the _____ function to retrieve a value from a table based on the row and
column numbers specified. - ✔✔index
✔✔When using a VLOOKUP function, the first column of the lookup table that contains
the data you are comparing to your "lookup_value" is/are called the _____. - ✔✔key
data
✔✔Values in a "closest match" vlookup table must be sorted in descending order so
that the VLOOKUP function can make accurate comparisons. - ✔✔false
✔✔The ISBLANK function returns a value of TRUE or FALSE. - ✔✔true
✔✔The function =HLOOKUP(F12,$A$3:$D$10,3,TRUE) retrieves the value from the
third column of the lookup table. - ✔✔false
✔✔The _____ argument of the VLOOKUP function is the type of lookup...the value
should be either TRUE or FALSE. - ✔✔range_lookup
✔✔The VLOOKUP function "looks up" a value and evaluates (compares) it against
values in a lookup_table (the "key data") in order to return a matching "answer." When
constructing a table_array to be used as lookup reference table, the "key data" should
be placed in the _____. - ✔✔leftmost column
✔✔Use _____ to check whether a specified reference or formula returns an empty cell.
- ✔✔isblank
✔✔The range_lookup argument of the VLOOKUP and HLOOKUP functions is the range
of values to be looked up in order to determine the function's result. - ✔✔false
, ✔✔You can only use the VLOOKUP and the HLOOKUP formulas to retrieve data stored
in lookup tables on the same worksheet. - ✔✔false
✔✔"Simple interest" is when you add interest earned each period to the principal and
then use that value to compute interest for the next period. - ✔✔false
✔✔The "values" argument in the formula =IRR(values,guess) is a list of positive and
negative cash flows - ✔✔true
✔✔When using the PMT function, the argument which represents the total number of
periods is _____. - ✔✔nper
✔✔Changing the value in the Nper argument in financial functions will also affect the
interest compoundng frequency - ✔✔true
✔✔When calculating a future value, enter beginning lump sum amounts and beginning
balances in the PV argument box - ✔✔true
✔✔You can define a range name for a value not listed in any worksheet. - ✔✔true
✔✔_____ is the process by which a company spreads the expense of an asset over its
useful life. - ✔✔depreciation
✔✔In financial functions, if the Type argument is left blank, the function will assume that
payments will start at end of the first payment period. - ✔✔true
✔✔The equivalent yearly simple interest rate that takes into account compounding is
the _____ - ✔✔annual percentage yield
✔✔The lower the net present value (NPV), the more profitable the project. - ✔✔false
✔✔When making loan payments, as the principal owed on the loan is slowly lowered,
the proportion of the payment amount applied to interest increases. - ✔✔false
✔✔The _____ is the time it will take to earn sufficient profits so that the loan can be
repaid. - ✔✔payback period
✔✔In order to calculate the Future Value of a stream of monthly cash flows which start
immediately, and also include an additional lump sum at the beginning of the
transaction, the value in the PMT argument should equal the Lump Sum amount plus
the monthly Payment amount. - ✔✔false
