Financial =CUMIPMT(rate, nper, pv, start_period, end_period, type)

Quiz =CUMIPMT — 10 Questions

10 quiz questions about =CUMIPMT — test syntax, arguments, examples & errors!

Questions: 10 questions 15 questions Random 10 or 15 questions from the pool + shuffled options each time

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Progress — 10 questions 1 of 10

Question 1 of 10 1/10

Which formula is a valid example of =CUMIPMT?

Question 2 of 10 2/10

Is argument “nper” required in =CUMIPMT?

Question 3 of 10 3/10

Which function is NOT related to =CUMIPMT?

Question 4 of 10 4/10

What is the type of argument “rate” in =CUMIPMT?

Question 5 of 10 5/10

How many required arguments does =CUMIPMT have?

Question 6 of 10 6/10

What is the fix for #NUM! in =CUMIPMT?

Question 7 of 10 7/10

Which statement about =CUMIPMT is correct?

Question 8 of 10 8/10

Which is the correct syntax of =CUMIPMT?

Question 9 of 10 9/10

What is the type of argument “start_period” in =CUMIPMT?

Question 10 of 10 10/10

In =CUMIPMT, which is argument #3?

Click a question to see the answer.

1. Which formula is a valid example of =CUMIPMT?

A. CUMIPMT(A2/12,A3*12,A4,13,24,0)
B. =CUMPRINC(A2/12,A3*12,A4,13,24,0)
C. =CUMIPMT(A2/12,A3*12,A4,13,24,0) ✓
D. =CUMIPMT(A2/12,A3*12,A4,13,24,0, 0)

Explanation: Correct example: =CUMIPMT(A2/12,A3*12,A4,13,24,0)

2. Is argument “nper” required in =CUMIPMT?

A. No
B. Yes
C. Yes ✓
D. —

Explanation: “nper” is required.

3. Which function is NOT related to =CUMIPMT?

A. SECH ✓
B. CUMPRINC
C. PMT
D. IPMT

Explanation: “SECH” is not related to CUMIPMT.

4. What is the type of argument “rate” in =CUMIPMT?

A. Value
B. Number ✓
C. Array
D. Mixed

Explanation: Type of “rate” is “Number”.

5. How many required arguments does =CUMIPMT have?

A. 8
B. 6 ✓
C. 5
D. 7

Explanation: =CUMIPMT has 6 required, 0 optional (6 total).

6. What is the fix for #NUM! in =CUMIPMT?

A. Text is always ignored
B. Check the inputs and the order of the start and end payments ✓
C. Only works in old versions
D. Requires add-in

Explanation: If rate ≤ 0, nper ≤ 0, or pv ≤ 0, CUMIPMT returns the #NUM! error value. If start_period < 1, end_period < 1, or start_period > end_period, CUMIPMT returns the #NUM! error value. If type is any number other than 0 or 1, CUMIPMT returns the #NUM! error value. — Fix: Check the inputs and the order of the start and end payments

7. Which statement about =CUMIPMT is correct?

A. Output is always a dynamic array
B. Volatile and recalculates every time
C. Only works in old versions
D. Make sure that you are consistent about the units you use for specifying rate and nper. If you make monthly payments on a four-year loan at an annual interest rate of 10 percent, use 10%/12 for rate and 4*12 for nper. If you make annual payments on the same loan, use 10% for rate and 4 for nper. ✓

Explanation: Correct: Make sure that you are consistent about the units you use for specifying rate and nper. If you make monthly payments on a four-year loan at an annual interest rate of 10 percent, use 10%/12 for rate and 4*12 for nper. If you make annual payments on the same loan, use 10% for rate and 4 for nper.

8. Which is the correct syntax of =CUMIPMT?

A. =CUMIPMT(rate, nper, pv, start_period, end_period, type, 0)
B. =CUMPRINC(rate, nper, pv, start_period, end_period, type)
C. CUMIPMT(rate, nper, pv, start_period, end_period, type)
D. =CUMIPMT(rate, nper, pv, start_period, end_period, type) ✓

Explanation: Correct syntax: =CUMIPMT(rate, nper, pv, start_period, end_period, type)

9. What is the type of argument “start_period” in =CUMIPMT?

A. Date
B. Mixed
C. Text
D. Number ✓

Explanation: Type of “start_period” is “Number”.

10. In =CUMIPMT, which is argument #3?

A. pv ✓
B. range
C. nper
D. type

Explanation: Argument #3 is “pv”.