MS Excel Advanced

What are the main advantages of using the INDEX and MATCH functions in Excel?

• They can perform complex calculations

• They can handle multiple criteria

• They are faster than VLOOKUP

• They create dynamic charts

When might you use the Index-Match combination instead of VLOOKUP?

• When you need to perform calculations on the result

• When you want to search in a single column

• When you need to retrieve data from another worksheet

• When working with text data only

What is the primary advantage of using XLOOKUP over VLOOKUP?

• XLOOKUP is faster

• XLOOKUP can handle approximate matches

• XLOOKUP can handle multiple criteria

• XLOOKUP is an older function

Which error-handling feature is available in XLOOKUP but not in VLOOKUP?

• #N/A error handling

• Custom error messages

• Error propagation

• None of the above

What is the primary purpose of the INDIRECT function?

• To perform mathematical calculations

• To create dynamic cell references

• To handle text manipulation

• To calculate averages

In which scenario might you use the INDIRECT function in financial models?

• Calculating averages

• Creating dynamic charts

• Handling error messages

• Extracting data from other workbooks

What is OFFSET primarily used for in Excel?

• Calculating financial ratios

• Creating dynamic ranges

• Generating random numbers

• Sorting data

How can OFFSET be used in financial modeling?

• For sorting data

• For calculating averages

• For trend analysis and rolling summaries

• For data validation

What is a notable advantage of using array formulas in Excel?

• They are faster than regular formulas

• They can handle only single criteria

• They are easier to understand

• They cannot handle irregular data sets

When might you use array formulas in financial analysis?

• For simple calculations

• When dealing with structured data only

• When handling irregular data sets

• For basic data extraction