FTC Data Week 16

Which of the following is NOT a method of data validation?

• Presence check

• Length check

• Check digit

• Sorting

What function can be used in Excel to check if a field contains a required character?

• =LEN()

• =SEARCH()

• =IF()

• =MOD()

What is the purpose of a check digit in data validation?

• To limit the number of characters in a field

• To ensure the format of an entry is correct

• To verify the accuracy of an entry using an algorithm

• To prevent duplicate data entry

What is the main purpose of reviewing external systems for consistency?

• To remove duplicate records

• To compare entered data against external databases

• To improve spreadsheet formatting

• To ensure data is stored securely

What does the Present Value (PV) function calculate?

• The value of an investment at a future date

• The interest rate applied to an investment

• The depreciation of an asset

• The value of an amount in today’s terms

What is the difference between Present Value (PV) and Future Value (FV)?

• PV calculates how much a future amount is worth today, while FV calculates how much an amount today will be worth in the future

• PV is always greater than FV

• FV is used for loans, while PV is used for investments

• There is no difference; they are the same

Which Excel function calculates the future value of an investment with a variable interest rate?

• PV()

• FV()

• FVSCHEDULE()

• RATE()

What is the purpose of the Goal Seek function in Excel?

• To find an unknown input needed to achieve a specific result

• To perform basic arithmetic calculations

• To generate random values for data analysis

• To automatically format tables

Where can you find the Goal Seek function in Excel?

• Data Tab → Forecast Section → What-If Analysis

• Insert Tab → Pivot Table

• Home Tab → Conditional Formatting

• Formulas Tab → Financial Functions

What is the main advantage of Power Pivot over a standard Pivot Table?

• It only works with Excel’s default templates

• It allows analysis of multiple tables simultaneously

• It does not require data relationships

• It automatically generates reports