9/14/22, 6:15 AM 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

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9/14/22, 6:15 AM 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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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?

Explanation
None.

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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.

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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.

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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.

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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.

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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.

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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.

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