100% A+ Answer Sheet - Wall Street Prep Excel Crash
Course Retake Exam (2024)
1. AVERAGE Function
Definition: An Excel function that adds a group of values, and then divides the result by the number of
values in the group.
2. IF Statement Function
Definition: A function that returns one value when a condition you specify evaluates to true and a
different value if it evaluates to false.
Explanation: First you begin with the logical test for the function, and then provide the value the
function should output if the logical test is evaluated to true, and last value the function should output if
the logical test is evaluated to false.
3. Nested IF Statement Function
Definition: IF function with various IF functions within each other.
4. IFS Function
Definition: A function that resolves the chunkiness of IF statements and Nested IF statements. Allows
multiple IF conditions in one function.
5. IFERROR Function
Definition: A function that returns a value you specify if the formula evaluates to an error. If not, it
returns the result of the formula.
Explanation: Begin with the value to check (e.g., something divided by 0), then input the value to
return if it results in an error.
6. & (Ampersand) Function
Definition: A function that concatenates cells with a text string.
, 7. EOMONTH Function
Definition: Outputs the last day of a specified month.
Explanation: Input the start_date as the first argument, then the number of months ahead or behind
that you want to calculate.
8. EDATE Function
Definition: Similar to EOMONTH but returns the same day in the specified month.
Explanation: Input the start_date, then how many months ahead or behind to calculate.
9. ISNUMBER Function
Definition: Checks if a cell contains a number.
Explanation: Input a value to return TRUE or FALSE depending on whether it’s a number.
10. ISTEXT Function
Definition: Evaluates if a cell contains text, and returns TRUE or FALSE.
Explanation: Input a value to check for text content.
11. YEARFRAC Function
Definition: Returns the fraction of the year between two dates.
Optional Basis Parameters:
• 0 or omitted – U.S. 30/360
• 1 – Actual/Actual
• 2 – Actual/360
• 3 – Actual/365
• 4 – European 30/360
Explanation: Input start_date, end_date, and optional basis to calculate year fraction.
12. DATE Function
Definition: Combines year, month, and day values to return a date.
Explanation: Input year, month, and day as arguments.
Course Retake Exam (2024)
1. AVERAGE Function
Definition: An Excel function that adds a group of values, and then divides the result by the number of
values in the group.
2. IF Statement Function
Definition: A function that returns one value when a condition you specify evaluates to true and a
different value if it evaluates to false.
Explanation: First you begin with the logical test for the function, and then provide the value the
function should output if the logical test is evaluated to true, and last value the function should output if
the logical test is evaluated to false.
3. Nested IF Statement Function
Definition: IF function with various IF functions within each other.
4. IFS Function
Definition: A function that resolves the chunkiness of IF statements and Nested IF statements. Allows
multiple IF conditions in one function.
5. IFERROR Function
Definition: A function that returns a value you specify if the formula evaluates to an error. If not, it
returns the result of the formula.
Explanation: Begin with the value to check (e.g., something divided by 0), then input the value to
return if it results in an error.
6. & (Ampersand) Function
Definition: A function that concatenates cells with a text string.
, 7. EOMONTH Function
Definition: Outputs the last day of a specified month.
Explanation: Input the start_date as the first argument, then the number of months ahead or behind
that you want to calculate.
8. EDATE Function
Definition: Similar to EOMONTH but returns the same day in the specified month.
Explanation: Input the start_date, then how many months ahead or behind to calculate.
9. ISNUMBER Function
Definition: Checks if a cell contains a number.
Explanation: Input a value to return TRUE or FALSE depending on whether it’s a number.
10. ISTEXT Function
Definition: Evaluates if a cell contains text, and returns TRUE or FALSE.
Explanation: Input a value to check for text content.
11. YEARFRAC Function
Definition: Returns the fraction of the year between two dates.
Optional Basis Parameters:
• 0 or omitted – U.S. 30/360
• 1 – Actual/Actual
• 2 – Actual/360
• 3 – Actual/365
• 4 – European 30/360
Explanation: Input start_date, end_date, and optional basis to calculate year fraction.
12. DATE Function
Definition: Combines year, month, and day values to return a date.
Explanation: Input year, month, and day as arguments.
