8/11/22, 7:45 PM Assessment Review - Corporate Finance Institute
Corporate Finance Institute
Power Query Fundamentals
Below is a scored review of your assessment. All questions are shown.
Main Question Set
Correct Answer Partially Correct Incorrect Answer
https://cfi.onlinetests.app//Assess.aspx?guid=7CBC690FEBC94634BED3EDB79BC80E42&a=R1 1/19
8/11/22, 7:45 PM Assessment Review - Corporate Finance Institute
1 Data Normalization
Power Query allows us to automate data transformations. Whilst we all know what bad data looks like, the principles of data
normalization help us define some rules for what our transformed data should look like.
Which of the following are true about data normalization? Select ALL correct answers.
Your Answer Reduced storage space and easier maintenance are both benefits of data normalization
Every attribute or value should have its own column
Correct Answer Reduced storage space and easier maintenance are both benefits of data normalization
Every attribute or value should have its own column
Explanation
None.
https://cfi.onlinetests.app//Assess.aspx?guid=7CBC690FEBC94634BED3EDB79BC80E42&a=R1 2/19
8/11/22, 7:45 PM Assessment Review - Corporate Finance Institute
2 Basic Transformations – Importing CSV Files
CSV Files are one of the most common files types that we work with in Business Intelligence.
Which of the following are true about CSV files? Select ALL correct answers.
Your Answer The file extension is .csv
Commas are used to separate all the values in a row
Correct Answer The file extension is .csv
Commas are used to separate all the values in a row
Explanation
None.
https://cfi.onlinetests.app//Assess.aspx?guid=7CBC690FEBC94634BED3EDB79BC80E42&a=R1 3/19
8/11/22, 7:45 PM Assessment Review - Corporate Finance Institute
3 Extracting Information – Dealing with blank ghost columns
Often when importing data from Excel sheets, we have to deal with additional ‘ghost’ columns that appear to be completely blank.
How would you deal with ghost columns in an Excel file, in particular, if you did not know how many of these additional blank columns
were going to be present each time the query is refreshed?
Your Answer Use the “Remove Other Columns” instead of “Remove Columns”
Correct Answer Use the “Remove Other Columns” instead of “Remove Columns”
Explanation
None.
https://cfi.onlinetests.app//Assess.aspx?guid=7CBC690FEBC94634BED3EDB79BC80E42&a=R1 4/19
8/11/22, 7:45 PM Assessment Review - Corporate Finance Institute
4 Consolidating Data – Merging Tables
Merging tables enables us to combine the columns of two or more tables, into one table. For every row in the original table, we effectively
find a matching value in the new table, and return the corresponding new values.
Which Power Query function would you use to merge two tables, specifically to add additional detail to each row?
Your Answer Merge Queries
Correct Answer Merge Queries
Explanation
None.
https://cfi.onlinetests.app//Assess.aspx?guid=7CBC690FEBC94634BED3EDB79BC80E42&a=R1 5/19
8/11/22, 7:45 PM Assessment Review - Corporate Finance Institute
5 Consolidating Data – Combining Identical Files
Power Query allows us to import data from many different sources, where the most common include Excel and CSV files. Combining
identical files can save us a lot of time if we are dealing with multiple regions, time periods, or categories.
Which of these functions would allow us to combine files with an identical layout?
Your Answer New Source > File > Folder
Correct Answer New Source > File > Folder
Explanation
None.
https://cfi.onlinetests.app//Assess.aspx?guid=7CBC690FEBC94634BED3EDB79BC80E42&a=R1 6/19
8/11/22, 7:45 PM Assessment Review - Corporate Finance Institute
6 Dealing with Errors – Basics
When creating Power Query transformations, it’s important to future-proof our queries, ensuring that the process will continue to
function correctly. Ensuring our queries are error-free is one part of this future-proofing process.
Which of the following are appropriate techniques for dealing with errors?
Your Answer All of the above
Correct Answer All of the above
Explanation
None.
https://cfi.onlinetests.app//Assess.aspx?guid=7CBC690FEBC94634BED3EDB79BC80E42&a=R1 7/19
8/11/22, 7:45 PM Assessment Review - Corporate Finance Institute
7 The Advanced Editor – M Code
The Power Query editor allows us to visually interact with our data, but the actual recording of steps takes place in a language called M,
which we can access using the Advanced Query Editor.
Which of the following is NOT true about M?
Your Answer The In statement defines the source of the data
Correct Answer The In statement defines the source of the data
Explanation
None.
https://cfi.onlinetests.app//Assess.aspx?guid=7CBC690FEBC94634BED3EDB79BC80E42&a=R1 8/19
8/11/22, 7:45 PM Assessment Review - Corporate Finance Institute
8 The Advanced Editor – Text Functions in M
Using the Advanced Query Editor, we can view and modify the code created from our drag and drop steps. This is a great way to learn
how both simple and more complex functions are written.
Use the Advanced Query Editor to explore the code from the exercises in this course. Which Power Query M functions are used to extract
the first or last characters from a text string?
Your Answer Text.Start() & Text.End()
Correct Answer Text.Start() & Text.End()
Explanation
None.
https://cfi.onlinetests.app//Assess.aspx?guid=7CBC690FEBC94634BED3EDB79BC80E42&a=R1 9/19
8/11/22, 7:45 PM Assessment Review - Corporate Finance Institute
9 Futureproofing – Parameters
In this course, we used a parameter to make the process of sharing files easier. The parameter allowed us to define a file location, which
we referred to in our queries.
More generally, which of the following is the best description of a parameter?
Your Answer A parameter is like a setting and allows us to save a value or string of text
Correct Answer A parameter is like a setting and allows us to save a value or string of text
Explanation
None.
https://cfi.onlinetests.app//Assess.aspx?guid=7CBC690FEBC94634BED3EDB79BC80E42&a=R1 10/19
8/11/22, 7:45 PM Assessment Review - Corporate Finance Institute
10 Futureproofing – General concepts
We’ve mentioned futureproofing many times. After all, if your query breaks next week, what was the point of automating everything.
Futureproofing, and testing is key.
Which of the following should you consider when building queries in Power Query? Select ALL correct answers.
Your Answer Think about how the data might change in the future? How can you make your queries more
robust against predictable changes in layout, such as the number of columns?
What data types will be needed for our analysis, and therefore what data types should we set in
our query?
Will any of Power Query’s automatically inserted steps mess up our queries if things change in
the future?
Does my data really need to be loaded to an Excel table, or will a connection suffice?
Do I need to add comments to help the next user to navigate my queries?
Correct Answer Think about how the data might change in the future? How can you make your queries more
robust against predictable changes in layout, such as the number of columns?
What data types will be needed for our analysis, and therefore what data types should we set in
our query?
Will any of Power Query’s automatically inserted steps mess up our queries if things change in
the future?
Does my data really need to be loaded to an Excel table, or will a connection suffice?
Do I need to add comments to help the next user to navigate my queries?
https://cfi.onlinetests.app//Assess.aspx?guid=7CBC690FEBC94634BED3EDB79BC80E42&a=R1 11/19
8/11/22, 7:45 PM Assessment Review - Corporate Finance Institute
Explanation
None.
https://cfi.onlinetests.app//Assess.aspx?guid=7CBC690FEBC94634BED3EDB79BC80E42&a=R1 12/19
8/11/22, 7:45 PM Assessment Review - Corporate Finance Institute
11 Dealing with Errors – Working with Dates
Working with dates in Excel can easily cause us problems if we do not manage them carefully.
Which series of steps would be most effective at dealing with foreign dates?
Your Answer Change type using Date Locales
Correct Answer Change type using Date Locales
Explanation
None.
https://cfi.onlinetests.app//Assess.aspx?guid=7CBC690FEBC94634BED3EDB79BC80E42&a=R1 13/19
8/11/22, 7:45 PM Assessment Review - Corporate Finance Institute
12 Conditional Columns
In this course, we used conditional columns to deal with exceptions in our data. We can use conditional columns to categorize rows, or
the manipulate values in some way.
Why is it important to think carefully about the structure of the last few conditions in particular?
Your Answer We should think about what happens if new data appears that we haven’t considered yet
Correct Answer We should think about what happens if new data appears that we haven’t considered yet
Explanation
None.
https://cfi.onlinetests.app//Assess.aspx?guid=7CBC690FEBC94634BED3EDB79BC80E42&a=R1 14/19
8/11/22, 7:45 PM Assessment Review - Corporate Finance Institute
13 Import the CSV file called Assessment Exercise A from your course downloads. Transform data to group sales by store AND date. You
will need to use the “Add Grouping” button when you use the Group function.
Use the Fill Down function to populate the store number column. What type of values does the Fill Down function need to work
correctly?
Your Answer null
Correct Answer null
Explanation
None.
https://cfi.onlinetests.app//Assess.aspx?guid=7CBC690FEBC94634BED3EDB79BC80E42&a=R1 15/19
8/11/22, 7:45 PM Assessment Review - Corporate Finance Institute
14 In the same Assessment Exercise A, create a summary of amounts Sales by Store and Date. What are the sales for store ID 2 on the
01/01/2020?
Your Answer None of the above
Correct Answer None of the above
Explanation
None.
https://cfi.onlinetests.app//Assess.aspx?guid=7CBC690FEBC94634BED3EDB79BC80E42&a=R1 16/19
8/11/22, 7:45 PM Assessment Review - Corporate Finance Institute
15 Import the Excel file called Assessment Exercise B from your course download.
You have some data that represents a handful of GL accounts. It is NOT a complete trial balance. Aggregate the Transaction Amounts
by using the GL Account Names from the Accounts table.
What is the balance of the COGS account?
Your Answer 11,384,906
Correct Answer 11,384,906
Explanation
None.
https://cfi.onlinetests.app//Assess.aspx?guid=7CBC690FEBC94634BED3EDB79BC80E42&a=R1 17/19
8/11/22, 7:45 PM Assessment Review - Corporate Finance Institute
16 Open the folder Assessment C from your course downloads. It contains sales data with one file for each month.
Import a new query using the folder and combine them as we did in exercise 3c in the course. Combine them to give one table of sales.
Use the Sample File to transform each file before they get combined.
What were the sales in category 1?
Your Answer 11,414,040.12
Correct Answer 11,414,040.12
Explanation
None.
https://cfi.onlinetests.app//Assess.aspx?guid=7CBC690FEBC94634BED3EDB79BC80E42&a=R1 18/19
8/11/22, 7:45 PM Assessment Review - Corporate Finance Institute
Page 1 of 1
Summary
Return to Course
Software by
Version 11.2
Privacy Policy. Assessment content is copyright 2022, Corporate Finance Institute.
https://cfi.onlinetests.app//Assess.aspx?guid=7CBC690FEBC94634BED3EDB79BC80E42&a=R1 19/19
