microsoft 77-888 practice test

Question 1

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

Answer:

A D

Explanation:
Various financial functions (reference) are as follows:
1. ACCRINT function: It is used to return the accrued interest for a security that pays periodicinterest.
2. ACCRINTM function: It is used to return the accrued interest for a security that pays interest atmaturity.
3. AMORDEGRC function: It is used to return the depreciation for each accounting period by usinga depreciation coefficient.
4. COUPDAYBS function: It is used to return the number of days from the beginning of the couponperiod 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 containingthe settlement date.
7. COUPDAYSNC function: It is used to return the number of days from the settlement date to thenext 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 settlementdate 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 twoperiods.
13. DB function: It is used to return the depreciation of an asset for a specified period by using thefixed-declining balance
method.
14. DDB function: It is used to return the depreciation of an asset for a particular period by usingthe 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 adollar 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 numberinto 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 interestpayments.
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 afterapplying 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 aninvestment.
26. MDURATION function: It is used to return the Macauley modified duration for a security withan assumed par value of
$100.
27. MIRR function: It is used to return the internal rate of return in which positive and negativecash 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 aseries 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 anodd 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 anodd 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 aparticular defined period.
37. PRICE function: It is used to return the price per $100 face value of a security that paysPeriodic interest.
38. PRICEDISC function: It is used to return the price per $100 face value of a discountedsecurity.
39. PRICEMAT function: It is used to return the price per $100 face value of a security that paysinterest 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 investedsecurity.
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 periodby 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 isnot necessarily periodic.
50. XNPV function: It is used to return the net present value for a schedule of cash flows that isnot 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 atmaturity.

Question 2

You work as an Office Assistant for Media Perfect Inc. You have created a spreadsheet in Excel
2010 and shared it with the other employees of the company. You select the Encrypt with Password option as a protection
measure for the document you are sharing. Now, you have to specify a password in the Password box in the Encrypt
Document dialog box appeared for editing the document. But you have forgotten the password. What will happen in this
situation?

• A. You will use a new password.
• B. You will ask Microsoft to retrieve the password.
• C. You will fetch the password from the list in which you have saved it.
• D. You will create a new document.

Answer:

C

Explanation:
The various Protect Workbook options are as follows:
1. Mark as Final: This option is used to make the document read-only. When a spreadsheet is marked as final, various
options such as typing, editing commands, and proofing marks are disabled or turned off and the spreadsheet becomes
read-only. This command helps a user to communicate that he is sharing a completed version of a spreadsheet. This
command also prevents reviewers or readers from making inadvertent modifications to the spreadsheet. 2. Encrypt with
Password: When a user selects the Encrypt with Password option, the Encrypt Document dialog box appears. In the
Password box, it is required to specify a password. Microsoft is not able to retrieve lost or forgotten passwords, so it is
necessary for a user to keep a list of passwords and corresponding file names in a safe place.
3. Protect Current Sheet: This option is used to select password protection and permit or prohibitother users to select,
format, insert, delete, sort, or edit areas of the spreadsheet. This option protects the worksheet and locked cells.
4. Protect Workbook Structure: This option is used to select password protection and selectoptions to prevent users from
changing, moving, and deleting important data. This feature enables a user to protect the structure of the worksheet.
5. Restrict Permission by People: This option works on the basis of Window Rights Managementto restrict permissions. A
user is required to use a Windows Live ID or a Microsoft Windows account to restrict permissions. These permissions can be
applied via a template that is used by the organization in which the user is working. These permissions can also be added by
clicking Restrict Access.
6. Add a Digital Signature: This option is used to add a visible or invisible digital signature. Itauthenticates digital information
such as documents, e-mail messages, and macros by using computer cryptography. These signatures are created by
specifying a signature or by using an image of a signature for establishing authenticity, integrity, and non-repudiation.

Answer option D is incorrect. You can create a new document with the same details but it will increase the overhead and is a
very time consuming process.

Question 3

You work as an Office Assistant for Peach Tree Inc. Your responsibility includes creating sales incentive report of all sales
managers for every quarter. You are using Microsoft Excel to create a worksheet for preparing the report. You have inserted
the sales figures of all sales managers as shown in the image given below:

You have to calculate the first quarter incentives for all sales managers. The incentive percentage (provided in cell B3) is
fixed for all sales managers. The incentive will be calculated on their total first quarter sales. You have to write a formula in
the cell F8. Then you will drag the cell border to the cell F12 to copy the formula to all the cells from F8 to F12. In the first
step, you select the F8 cell. Which of the following formulas will you insert to accomplish the task?

• A. =&B&3/100 * E8
• B. =B3/100 * E8
• C. =B3/100 * &E&8
• D. =$B$3/100 * E8
• E. =B3/100 * $E$8

Answer:

D

Explanation:
In order to accomplish the task, you will have to insert the following formula:
=$B$3/100 * E8
According to the question, the formula will be inserted in cell F8 and then the cell's border will be dragged to the F12 cell.
Furthermore, the incentive percentage is fixed for all sales managers and the value is provided in the cell B3. You will have
to insert a formula that refers to the B3 cell as an absolute reference. For this you will have to type currency symbol ($)
before the row name and column number. In order to accomplish the task, type the following formula in the cell F8:
=$B$3/100 * E8
When absolute reference is used for referencing a cell in a formula, dragging cell's border to another cell does not change
the cell's reference.
Answer options B and E are incorrect. This formula references the B3 cell as a relative reference. After inserting the formula,
when the cell's border is dragged, it will change the cell reference relatively.
Answer options A and C are incorrect. Ampersand symbol (&) is not used for referencing cells in Excel.

Question 4

HOTSPOT
You work as a Sales Manager for Rainbow Inc. You are working on a report in a worksheet in Excel 2010. You want to insert
flow-chart in the sheet. Mark the option that you will choose to insert flow- chart symbols in the report. In order to accomplish
the task, you will have to choose the Shapes option. Shapes are simple objects provided by Microsoft Office to add them to a
document. A single shape or combined multiple shapes can be inserted in the document. The Office includes simple shapes,
such as lines, basic geometric shapes, arrows, equation shapes, flowchart shapes, stars, banners, and call outs. Users can
add text, bullets, numbering, and Quick Styles to these shapes after inserting them in the document. Take the following steps
to add a shape in a document:
Hot Area:

Answer:

Explanation:

Question 5

You work as an Office Assistant for Tech Tree Inc. You have created a report in a workbook in Microsoft Excel 2010. 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 & 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.

Answer:

A B C E

Question 6

Rick works as an Office Assistant for Tech Perfect Inc. The company has a Windows-based network.
Rick wants to display data series, categories, data markers, and axes in the report. Which of the following actions will Rick
take to accomplish the task?

• A. He will use stand-alone slicers.
• B. He will create a PivotTable report.
• C. He will configure form controls.
• D. He will create a PivotChart report.

Answer:

D

Explanation:
The PivotChart report is used to provide a graphical representation of data in a PivotTable report in an interactive way.
Whenever a user creates the PivotChart report, PivotChart report filters are displayed in the chart area. These are used for
sorting and filtering the underlying data of the PivotChart report. Changes made to the layout and data in the associated
PivotTable report are immediately reflected in the layout and data in the PivotChart report. The PivotChart report shows data
series, categories, data markers, and axes in the same way as the standard charts do. It is possible to change the chart type
and other options such as titles, legend placement, data labels, and chart location.
Answer option A is incorrect. Stand-alone slicers are referenced from Online Analytical Processing (OLAP) Cube functions.
These stand-alone slicers can be connected with any PivotTable in future. They can be added by using the slicer button on
the Ribbon. They need to be manually linked into grids as required.
Answer option C is incorrect. A form control is an original control that is compatible with old versions of Excel, beginning with
Excel version 5. 0. It is designed for use on XLM macro sheets. It can be used when a user wants to simply interact with cell
data without using VBA code and when he wants to add controls to chart sheets. By using form controls, the user can run
macros. He can attach an existing macro to a control, or write or record a new macro. These controls cannot be added to
UserForms, used to control events, or modified to run Web scripts on Web pages.
Answer option B is incorrect. A PivotTable report is used to summarize large amounts of data, to analyze numerical data,
and to answer unexpected questions about data.

Question 7

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

Answer:

C

Explanation:
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 userwants to see all changes at
a glance.
2. History tracking: It is used when a workbook has many changes and a user wants to investigatewhat occurred in a series
of changes.
3. Reviewing of changes: It is used when a user is evaluating comments from other users. Answeroption A is incorrect. This
is an invalid answer option.

Question 8

You work as an Office Assistant for Tech Perfect Inc. The company has a Windows-based network. You are creating a
business report by using. Microsoft Excel 2010. You have arranged sales data as shown below:

You want to provide pictorial representation of the trend of the sales data in front of each row. Which of the following actions
will you take to accomplish the task with the least amount of administrative burden?

• A. Use stand-alone slicers.
• B. Configure form controls.
• C. Create sparklines.
• D. Create a PivotTable report.

Answer:

C

Explanation:

In order to accomplish the task with the least amount of administrative burden, use sparklines. Sparklines, introduced in
Microsoft Office 2010, are tiny charts that can fit in a cell. The sparklines can be used to show trends in a small amount of
space. The sparklines visually summarize trends alongside data.
The sparklines can be added through the Insert tab.
Answer option A is incorrect. Stand-alone slicers are referenced from Online Analytical Processing (OLAP) Cube functions.
These stand-alone slicers can be connected with any PivotTable in future. They can be added by using the slicer button on
the Ribbon. They need to be manually linked into grids as required.
Answer option B is incorrect. A form control is an original control that is compatible with old versions of Excel, beginning with
Excel version 5. 0. It is designed for use on XLM macro sheets. It can be used when a user wants to simply interact with cell
data without using VBA code and when he wants to add controls to chart sheets. By using form controls, the user can run
macros. He can attach an existing macro to a control, or write or record a new macro. These controls cannot be added to
UserForms, used to control events, or modified to run Web scripts on Web pages.
Answer option D is incorrect. A PivotTable report is used to summarize large amounts of data, to analyze numerical data,
and to answer unexpected questions about data.

Question 9

You work as an Office Assistant for Media Perfect Inc. You have created a report in Excel. You have inserted the following
formula in a cell: VLOOKUP(12, A2:C10, 3, FALSE )
Which of the following actions will be performed by the formula?

• A. Search for the value 12 in the first column of the range, and then returns the value that is contained in the third column of the range and on the same row as the lookup value.
• B. Wrong syntax used.
• C. Search the value 3 in the last column of the range, and then returns the value that is in the column of the range and on the same row as the lookup value.
• D. Search the value 12 in the third column of the range and then returns the value that is contained in the 12th column of the range and on the same column as the lookup value.

Answer:

A

Explanation:
The formula will search for the value 12 in the first column of the range, and then returns the value that is contained in the
third column of the range and on the same row as the lookup value.

Question 10

You work as an Office Assistant for Media Perfect Inc. You are creating a report in Microsoft Excel 2010. The report
worksheet will include the sales made by all the sales managers in the month of January.

In the worksheet, you are required to place a pictorial representation displaying the percentage of total sales made by each
sales manager in January. Which of the following charts will you use to accomplish the task?

• A. Bar
• B. Line
• C. Column
• D. Pie

Answer:

D

Explanation:
In order to accomplish the task, you will have to insert a pie chart in the worksheet. Excel provides a pie chart facility to
display data that is arranged in one column or row on a worksheet. Pie charts display the size of items in one data series,
proportional to the sum of the items.