Everything You Need to Know about the Indiana Personal Finance Challenge!
IMPORTANT: For Indiana's winning high school team, the National Personal Finance Challenge sponsors will pay for hotel accommodations for 4 team members and one chaperone/teacher, along with dinner the evening before the national competition and breakfast and lunch the day of the national competition. Airfare to the national championship in Lincoln, Nebraska is the responsibilty of the winning team, school, or school district. If the winning Indiana team chooses to travel to the University of Nebraska - Lincoln for the National Personal Finance Challenge, the Indiana Council for Economic Education will facilitate their participation. Both of Indiana's winning middle and high school teams will receive awards and an invitation to a state-wide event recognizing their accomplishment!!
Here's how you and your students participate in the 2018 Indiana Personal Finance Challenge:
1. Check the competition rules at https://financechallenge.unl.edu/Content/13RulesAndGuidelines.pdf. Please note that the Indiana Personal Finance Challenge rules may vary from the national rules. The Indiana competition includes only one online round.
2. Click https://financechallenge.unl.edu/Content/13PFCTeacherHandbook.pdf for the competition teacher's guide.
3. Go to the Finance Challenge portal page at https://financechallenge.unl.edu/
4. Click on Indiana and register as a teacher/coach in the appropriate division (middle or high school).
5. After your registration has been approved, you can begin creating teams of 4 students (competing with 3 team members is acceptable, if necessary).
6. After creating your team(s), you can download unique access codes for each student. Distribute these access codes to your students when they are ready to begin the online competition. Please keep these codes safe. A code cannot be used by a student for whom it was not created.
7. The Indiana Personal Finance Challenge runs from Monday, April 2 through Monday, April 16, 2018. Teams may login and compete on any one of these days, excluding the weekend dates of Saturday, April 7, Sunday, April 8, Saturday, April 14, and Sunday, April 15. The testing portal will be open from 6:00am - 6:00pm eastern time for that two-week period.
**NEW THIS YEAR** Testing days and times during the online competition window are left to the discretion of the teacher/coach but must be between the hours and on one of the days listed above. Members of a team do not have to compete on the same day! A team member, in coordination with the teacher/coach, may choose the best day and time to compete, within the parameters listed above.
8. Once the competition begins, students enter the website https://financechallenge.unl.edu/ and complete a 35-minute, 30-question, rapid-fire exam on topics including income and money management, spending, credit, saving and investing. Teams should be prepared for some grade-appropriate, basic economic concepts to be tested as well.
While this is a team competition, each student must complete his or her exam individually. Students must not work as a group. Teachers/coaches should supervise student participants during all testing periods. In addition, students may not utilize any outside materials or testing aids during the competition (i.e. no books, calculators, etc.) A pencil and piece of scratch paper is acceptable. Students are not to be given any help or guidance from their teacher or any other person(s), including teammates. Teachers/coaches will be asked to sign and submit a form certifying that their team(s) will comply with competition rules.
9. Scoring: The sum of the top 3 individual scores on each team make up the team score.
**NEW THIS YEAR** Scoring on individual tests is as follows: +10 for each correct answer, 0 points for each unanswered question. The -5 points for incorrect answers has been eliminated. Scores will be available after the competition window has closed.
10. The announcement of state champions in each division and those teams finishing in 2nd - 10th place in each division will be announced by Tuesday, April 17, 2018.
Scores will be available by logging in at the Finance Challenge web site at the conclusion of the competition!