Microsoft Microsoft Certifications 77-427 Questions & Answers

• Question 31:

  You work as a Finance Manager for Blue Well Inc. The company has a Windows-based network. You are using Excel spreadsheet for maintaining financial budget and other financial calculations. You want to return the depreciation of an asset for a specified period by using the fixed-declining balance method and to return the future value of a starting principal after applying a series of compound interest rates.

  Which of the following financial functions will you use to accomplish the task? Each correct answer represents a complete solution. Choose all that apply.

  A. DB function

  B. NPV function

  C. DDB function

  D. FVSCHEDULE function

  Correct Answer: AD

  Various financial functions (reference) are as follows:

  1.

  ACCRINT function: It is used to return the accrued interest for a security that pays periodic interest.

  2.

  ACCRINTM function: It is used to return the accrued interest for a security that pays interest at maturity.

  3.

  AMORDEGRC function: It is used to return the depreciation for each accounting period by using a depreciation coefficient.

  4.

  COUPDAYBS function: It is used to return the number of days from the beginning of the coupon period to the settlement date.

  5.

  AMORLINC function: It is used to return the depreciation for each accounting period.

  6.

  COUPDAYS function: It is used to return the number of days in the coupon period containing the settlement date.

  7.

  COUPDAYSNC function: It is used to return the number of days from the settlement date to the next coupon date.

  8.

  COUPNCD function: It is used to return the next coupon date after the settlement date.

  9.

  COUPNUM function: It is used to return the number of coupons payable between the settlement date and maturity date.

  10.

  COUPPCD function: It is used to return the previous coupon date before the settlement date.

  11.

  CUMIPMT function: It is used to return the cumulative interest paid between two periods.

  12.

  CUMPRINC function: It is used to return the cumulative principal paid on a loan between two periods.

  13.

  DB function: It is used to return the depreciation of an asset for a specified period by using the fixed-declining balance method.

  14.

  DDB function: It is used to return the depreciation of an asset for a particular period by using the double-declining balance method.

  15.

  DISC function: It is used to return the discount rate for a security.

  16.

  DOLLARDE function: It is used to convert a dollar price that is expressed as a fraction into a dollar price that is expressed as a decimal number.

  17.

  DOLLARFR function: It is used to convert a dollar price that is expressed as a decimal number into a dollar price that is expressed as a fraction.

  18.

  DURATION function: It is used to return the annual duration of a security with periodic interest payments.

  19.

  EFFECT function: It is used to return the effective annual interest rate.

  20.

  FV function: It is used to return the future value of an investment.

  21.

  FVSCHEDULE function: It is used to return the future value of a starting principal after applying a series of compound interest rates.

  22.

  INTRATE function: It is used to return the interest rate for a fully invested security.

  23.

  IPMT function: It is used to return the interest payment for an investment for a specified period.

  24.

  IRR function: It is used to return the internal rate of return for a series of cash flows.

  25.

  ISPMT function: It is used to calculate the interest paid during a particular period of an investment.

  26.

  MDURATION function: It is used to return the Macauley modified duration for a security with an assumed par value of $100.

  27.

  MIRR function: It is used to return the internal rate of return in which positive and negative cash flows are financed at different rates.

  28.

  NOMINAL function: It is used to return the annual nominal interest rate.

  29.

  NPER function: It is used to return the number of periods for an investment.

  30.

  NPV function: It is used to return the net present value of an investment on the basis of a series of periodic cash flows and a discount rate.

  31.

  ODDFPRICE function: It is used to return the price per $100 face value of a security with an odd first period.

  32.

  ODDFYIELD function: It is used to return the yield of a security with an odd first period.

  33.

  ODDLPRICE function: It is used to return the price per $100 face value of a security with an odd last period.

  34.

  ODDLYIELD function: It is used to return the yield of a security with an odd last period.

  35.

  PMT function: It is used to return the periodic payment for an annuity.

  36.

  PPMT function: It is used to return the payment on the principal for an investment for a particular defined period.

  37.

  PRICE function: It is used to return the price per $100 face value of a security that pays Periodic interest.

  38.

  PRICEDISC function: It is used to return the price per $100 face value of a discounted security.

  39.

  PRICEMAT function: It is used to return the price per $100 face value of a security that pays interest at maturity.

  40.

  PV function: It is used to return the current value of an investment.

  41.

  RATE function: It is use d to return the interest rate per period of an annuity.

  42.

  RECEIVED function: It is used to return the amount received at maturity for a fully invested security.

  43.

  SLN function: It is used to return the straight-line depreciation of an asset for one period.

  44.

  SYD function: It is used to return the sum-of-years' digits depreciation of an asset for a particular period.

  45.

  TBILLEQ function: It is used to return the bond-equivalent yield for a Treasury bill.

  46.

  TBILLPRICE function: It is used to return the price per $100 face value for a Treasury bill.

  47.

  TBILLYIELD function: It is used to return the yield for a Treasury bill.

  48.

  VDB function: It is used to return the depreciation of an asset for a specified or partial period by using a declining balance method.

  49.

  XIRR function: It is used to return the internal rate of return for a schedule of cash flows that is not necessarily periodic.

  50.

  XNPV function: It is used to return the net present value for a schedule of cash flows that is not necessarily periodic.

  51.

  YIELD function: It is used to return the yield on a security that pays periodic interest.

  52.

  YIELDDISC function: It is used to return the annual yield for a discounted security.

  53.

  YIELDMAT function: It is used to return the annual yield of a security that pays interest at maturity.

• Question 32:

  You work as an Office Manager for Blue Well Inc. The company has a Windows-based network. You have a formula that uses one or two variables or multiple formulas that all use one common variable. You want to examine a range of possibilities at a glance. Which of the following will you use to accomplish the task?

  A. Goal Seek

  B. Solver add-in

  C. Data table

  D. Scenario

  Correct Answer: C

  A data table is used to see all the outcomes in one place. It is defined as a type of what-if analysis tools. It is used if a user has a formula that uses one or two variables or multiple formulas that all use one common variable. It is used to examine a range of possibilities at a glance and since the user focuses on only one or two variables, results are easy to read and share in tabular form. If automatic recalculation is enabled, it is possible to recalculate the data in data tables immediately and as a result, the user always gets fresh data. Answer option D is incorrect. A scenario is defined as a type of what-if analysis tools. It is a set of values saved by Excel and can be substituted automatically in cells on a worksheet. A user can create and save different groups of values on a worksheet and then switch to any of these new scenarios to view different results. Scenario reports are not automatically recalculated. If the user changes the values of a scenario, those changes will not be displayed in an existing summary report and he must create a new summary report to show the reflection of the changed report. Answer option A is incorrect. Goal Seek is defined as a type of what-if analysis tools. It is used if a user knows the result that he wants from a formula, but he is not sure what input value the formula needs to get that result. It works with only one variable input value. Answer option B is incorrect. The Solver add-in is used if a user knows the result that he wants from a formula, but he is not sure what input value the formula needs to get that result. It is used for more than one input value. It works with a group of cells related to the formula in the objective cell.

• Question 33:

  You work as an Office Assistant for Tech Perfect Inc. You are working in a spreadsheet. You use a function in one cell and it works perfectly but when you attempt to copy the function down to other rows, you get the #REF error. Which of the following are the reasons that are causing the above problem?

  Each correct answer represents a complete solution. Choose all that apply.

  A. You are inserting a new column, next to a column that is already formatted as text.

  B. Excel is trying to reference an invalid cell.

  C. The lookup_value or the array you are searching resides in a cell containing unseen spaces at the start or end of that cell.

  D. You are referencing an entire worksheet by clicking on the grey square at the top left of the worksheet.

  Correct Answer: BD

  The Lookup Function Won't Copy Down to Other Rows error occurs when a user uses a function in one cell and it works perfectly but when he attempts to copy the function down to other rows, he gets the #REF error. The #REF! Error arises when Excel tries to reference an invalid cell. This error occurs if the user has referenced an entire worksheet by clicking on the grey square at the top left of the worksheet. For Excel, this reference range is 1 to 1048576. Since the references are Relative References, Excel automatically increases the row references when this cell is copied down to other rows in the spreadsheet. Answer option C is incorrect. The Failure to Look Up Values in Excel error occurs when a user gets an unexpected error while trying to look up or match a lookup_value within an array and Excel is not able to recognize the matching value. If the lookup_value or the array the user is searching resides in a cell, the user can have unseen spaces at the start or end of that cell. This will create the situation where the contents of the two cells that the user is comparing look the same but extra spaces in one of the cells cause the cells to have slightly different content. The other reason is that the contents of the cells that are being compared may have different data types.

  Answer option A is incorrect. The Excel Won't Calculate My Function error occurs when a user types in a function and presses Enter; the cell shows the function as the user typed it, instead of returning the function's value. The reason that causes this problem is that the cells containing the formula are formatted as 'text' instead of the 'General' type. This happens when the user inserts a new column, next to a column that is already formatted as text due to which the new column inherits the formatting of the adjacent column.

• Question 34:

  You work as an Office Assistant for Tech Tree Inc. You have created a report in a workbook in Microsoft Excel 2013. You have a number of PivotTables in a single report. You want to apply the same filter to all of those PivotTables. For this purpose, you are required to create a slicer in one PivotTable and share it with other PivotTables. Which of the following steps will you take to accomplish the task?

  Each correct answer represents a part of the solution. Choose all that apply.

  A. In the Insert Slicers dialog box, select the check box of the PivotTable fields for which you want to create a slicer.

  B. Click Insert Slicer in the Sort and Filter group on the Options tab.

  C. Hold down CTRL, and then click the items on which you want to filter.

  D. Select the Macro enabled checkbox of the PivotTable fields for which you want to create a slicer in the Insert Security dialog box and then click OK.

  E. Click anywhere in the PivotTable report for which you want to create a slicer.

  Correct Answer: ABCE

• Question 35:

  Rick works as an Office Assistant for Tech Perfect Inc. He is responsible for preparing sales

  reports of the company. He has created a sales report in a workbook of Excel 2013 and this workbook contains various worksheets as shown in the image given below:

  

  Rick wants the sheet tabs of the sheets containing charts to appear in red color. Which of the following steps will Rick take to accomplish the task?

  A. Select the sheets containing charts. Select the Colors option in the Themes group on the Page Layout page.

  B. Select the sheets containing charts. Right-click on the sheet tabs.

  C. Select the sheets containing charts. Right-click on the sheet tabs. Choose the Sheet Color Option from the shortcut menu.

  D. Select the sheets containing charts. Select the Effects option in the Themes group on the Page Layout page.

  Correct Answer: B

  According to the question, Rick wants the sheet tabs of the sheets containing charts to appear in red color. In order to accomplish the task, he will take the following steps:

  1.

  Select the sheets containing charts.

  2.

  Right-click on the sheet tabs. Choose the Tab Color option from the shortcut menu.

  

  

  Answer options A and D are incorrect. These steps will not affect the appearance of the sheet tabs. Answer option C is incorrect. This is an invalid answer option.

• Question 36:

  

  You work as an Office Assistant for Tech Perfect Inc. You are working in a spreadsheet as shown below:

  You want to use Excel Transpose Function for copying the contents of cells B1:B3 into cells A5:C5.

  You simply type '=TRANSPOSE( B1:B3 )' into the cells A5:C5. It displays the Excel #VALUE! error message because the cells are working independently and the function will not work for each individual cell. Therefore, it is required to make the cells A5:C5 work together as an ARRAY. For this purpose, you are required to use an array formula. Which of the following steps will you take to input Excel array formulas in the spreadsheet?

  Each correct answer represents a part of the solution. Choose all that apply.

  A. Type the array formula into the first cell.

  B. Highlight the range of cells that you want to use as an input in his array formula.

  C. Press CTRL-SHIFT-Tab to remove the error message.

  D. Press CTRL-SHIFT-Enter.

  Correct Answer: ABD

  The following steps are taken to input Excel array formulas:

  1.

  Highlight the range of cells that a user wants to use as an input in his array formula.

  2.

  Type the array formula into the first cell or make this cell editable by pressing F2 or clicking

  in the formula bar if a user has already specified a value into the first cell.

  3.

  Press CTRL-SHIFT-Enter.

  Answer option C is incorrect. This is an invalid answer option.

• Question 37:

  You work as an Office Assistant for Blue Well Inc. The company has a Windows-based network. You want to filter data in a PivotTable report without opening drop-down lists to find the items that you want to filter. For this purpose, you are using a slicer. After filtering the data, you want to delete the slicer. Which of the following steps can you take to accomplish the task?

  Each correct answer represents a complete solution. Choose all that apply.

  A. Click the slicer that you want to delete on the Options tab in the Slicer type group.

  B. Click the Macro setting, and then delete the slicer from the Macro-enabled slicers list.

  C. Click the slicer, and then press Delete.

  D. Right-click the slicer, and then click Remove .

  Correct Answer: CD

  Take one of the following steps to delete a slicer:

  1.

  Right-click the slicer, and then click Remove .

  2.

  Click the slicer, and then press Delete.

  Answer options B and A are incorrect. These are invalid answer options.

• Question 38:

  You work as an Office Assistant for Blue Well Inc. The company has a Windows-based network. You have changed some data in the worksheet of the company. You are submitting the sell workbook of the company to the Administrator of the company for comments. Now, you want to merge input that you receive into a copy of that workbook, including the changes and comments that you want to keep. For this purpose, it is required to access and use the stored change history. Which of the following will you use to accomplish the task?

  A. Slicer-enabled highlighting

  B. Onscreen highlighting

  C. Reviewing of changes

  D. History tracking

  Correct Answer: C

  The following ways are provided by Excel to access and use the stored change history:

  1.

  Onscreen highlighting: It is used when a workbook does not contain many changes and a user wants to see all changes at a glance.

  2.

  History tracking: It is used when a workbook has many changes and a user wants to investigate what occurred in a series of changes.

  3.

  Reviewing of changes: It is used when a user is evaluating comments from other users. Answer option A is incorrect. This is an invalid answer option.

• Question 39:

  You work as an Office Assistant for Blue well Inc. You want to record a macro and save it with the name "Auto_Open" so that the macro will run whenever you open the workbook containing the macro.

  While doing so, you observe that the Auto_Open macro fails every time. Which of the following are the causes of this?

  Each correct answer represents a complete solution. Choose all that apply.

  A. The default workbook or a workbook loaded from the XLStart folder is opened before running the macro.

  B. The workbook is opened programmatically using the Open method.

  C. The workbook where a user wants to save the Auto_Open macro already contains a VBAprocedure in its Open event.

  D. The workbook is based on the record button that is disabled by default before running the Auto_Open macro.

  Correct Answer: ABC

  The various limitations of recording an Auto_Open macro are as follows:

  1.

  If the workbook where a user wants to save the Auto_Open macro already contains a VBA procedure in its Open event, then all actions in the Auto_Open macro are overridden by the VBA procedure used for the Open event.

  2.

  The Auto_Open macro will be ignored when a workbook is opened programmatically using the Open method.

  3.

  The Auto_Open macro runs before any other workbooks are opened. Therefore, if the user records actions he wants Excel to perform on the default workbook or a workbook loaded from the XLStart folder, the Auto_Open macro will fail when the user restarts Excel because it runs before the default and start-up workbooks are opened. Answer option D is incorrect. This is an invalid answer option.

• Question 40:

  You work as an Office Assistant for Dreams Unlimited Inc. You use Microsoft Excel 2013 for creating various types of reports. You have created a report in the format given below:

  

  In the A7 cell, you are required to put a formula so that it can fulfill the description provided in the B7 cell.

  Which of the following formulas will provide the required result?

  A. COUNTIF(B2:C5,"=Yes")

  B. COUNTIFS(B2:C5,"=Yes")

  C. COUNTIF(B2:B5,"=Yes",C2:C5,"=Yes")

  D. COUNTIFS(B2:B5,"=Yes",C2:C5,"=Yes")

  Correct Answer: D

  In order to get the required result, you will have to insert the following formula in the B7 cell:

  COUNTIFS(B2:B5,"=Yes",C2:C5,"=Yes")

  Only Sarah and David have exceeded their January and February quotas, therefore the formula will provide 2 as the result.

  Answer option C is incorrect. The COUNTIF function of Excel does not support multiple criteria.

  Answer options A and B are incorrect. This formula will count all the cells that have the value

  "Yes" in the range B2:C5. As multiple criteria are not applied in the formula, it will provide 6 as the result.

  In order to get the required result, you will have to insert the following formula in the B7 cell:

  COUNTIFS(B2:B5,"=Yes",C2:C5,"=Yes")

  Only Sarah and David have exceeded their January and February quotas, therefore the formula will provide 2 as the result.

  Answer option C is incorrect. The COUNTIF function of Excel does not support multiple criteria.

  Answer options A and B are incorrect. This formula will count all the cells that have the value

  "Yes" in the range B2:C5. As multiple criteria are not applied in the formula, it will provide 6 as the result.