Frequently Asked Questions

1. How many students can be on a team? 

     1A.  Teams must consist of 3 or 4 students. 
 

 2. Can a student register a team for the IPFC? 

     2A.  No, teams must be registered and coached by a teacher. 
 

3. Can teachers have more than one team? 

     3A.  Yes, teachers are encouraged to have more than one team. Ideally, they will include their entire classroom in IPFC. There is no limit to how many teams a teacher can have. 

4. Can students be on more than one team? 

     4A.  No, students can only compete on one team. 

5. Can students participate in both the fall and spring semesters? 

     5A.  No, students who participate in the fall session are NOT eligible to participate again in the spring. 

6. Can teachers lead teams in both the fall and spring semesters? 

     6A.  Yes, as long as there is a new roster of students. 

7. If a student participated in a previous year of the IPFC, can they participate again? 

     7A.  Yes. For instance, if a student participated in Fall 2023 or Spring 2024, they may compete again this year. Fall 2024 and Spring 2025 are part of a new competition cycle. 

8. If a teacher participated in a previous year of the IPFC, can they participate again? 

     8A.  Yes, teachers are encouraged to register teams every year. 

9. Do returning teachers need to register again? 

     9A.  No, returning teachers don't need to register again. They can simply login with existing credentials.
 

10. How can students prepare for the IPFC? 

     10A.  The National Personal Finance Challenge provides a free toolkit for teachers. The toolkit provides lessons, activities, videos, quizzes, and practice case studies to help teams learn about the six core knowledge areas of personal finance.

11. Does the IPFC cost money? 

     11A.  There is no fee to compete in the IPFC or the NPFC. However, the winning team from Illinois will have to cover transportation costs to National Finals in Atlanta, Georgia. Lodging and food will be paid for by national sponsors. 

12. Is there a prize for the Personal Finance Challenge? 

      12A.  National Finals offers cash prizes to nationally ranking teams thanks to sponsor Voya Financial. Cash prizes listed are for each team member and the teacher in National Finals. 

• 1st Place: $2,000
• 2nd Place: $1,000
• 3rd Place: $500 
• 4th Place: $250

13. How do teachers create a team? 

     13A.  Check out our helpful how-to guide: Teacher Guide to Team Creation

14. How do students register and test? 

     14A. Check out our helpful how-to guide: Student Guide
 

Still have questions? Check out this library of how-to videos or contact Maggie Owen at mowen@illinoistreasurer.gov.