1. What is one key advantage XLOOKUP has over VLOOKUP?

XLOOKUP can look in either direction and has a built-in way to handle a missing match — VLOOKUP can only look left-to-right and returns #N/A with no built-in fallback.

2. In INDEX and MATCH combined, what does MATCH actually return?

MATCH returns the position of a value within a range — INDEX is the function that then returns the actual value at that position.

3. What happens when a dynamic array formula like FILTER or UNIQUE returns multiple results?

Dynamic array formulas automatically "spill" their multiple results into the neighboring empty cells, without needing to copy the formula down manually.

4. In a PivotTable, what does grouping a date field let you do?

Grouping rolls individual dates up into a higher level like Month, Quarter, or Year, turning a long list of exact dates into a cleaner summary.

5. What file extension must a workbook be saved with if it contains a macro?

Macro-enabled workbooks must be saved as .xlsm — saving as the regular .xlsx format will silently strip any macros out.