Everything You Need to Know about the Indiana Personal Finance Challenge!
IMPORTANT: Traditionally, Indiana's state champion high school team has traveled to Missouri to compete in the National Personal Finance Challenge each May. The competition sponsors are not able to cover the cost of travel to the National Personal Finance Challenge Championship this year. However, the winning high school team/school/school district is welcome to cover the cost of the team’s travel to Nationals, if they choose to do so, and Indiana will facilitate their participation. Both of Indiana's winning middle and high school teams will receive awards and an invitation to an event recognizing their accomplishment!!
Here's how you and your students participate in the 2017 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, and there is no Quiz Bowl.
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). YOUR REGISTRATION WILL BE APPROVED BY THE INDIANA COUNCIL FOR ECONOMIC EDUCATION AT THE TIME YOU REGISTER, BUT YOUR TEAM(S) CAN ONLY PARTICIPATE IF THE TEAM FEES (OR A PURCHASE ORDER) HAVE BEEN RECEIVED PRIOR TO THE COMPETITION.
Mail your team registration fee(s) or purchase order to:
IUPUI Center for Economic Education
425 University Blvd., CA 511
Indianapolis, IN 46202.
IMPORTANT!! Checks and purchase orders should be made payable to "Indiana Council for Economic Education."
TEAMS MUST SUBMIT PAYMENT OR A PURCHASE ORDER IN ORDER TO PARTICIPATE.
The fee is $30 per team or $120 per classroom. Early Bird Special: Register by February 10, 2017 and the fees are $20 per team or $100 per classroom. Each middle school teacher/coach may send one team for free!!
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, March 27 through Friday, April 7, 2017. Teams may login and compete on any one of these days, excluding Saturday, April 1, and Sunday, April 2. The testing portal will be open from 6:00am - 6:00pm eastern time M-F for that two-week period. Teams may login and compete on any one of these days. While the testing day during the online competition is left to the discretion of the teacher/coach, all team members must complete the exam within 3 hours and between the hours and on one of the days listed above. For example, if one team member begins testing at 3:00pm on Friday, March 31, all team members must have their exams completed by 6:00pm that same day. If you have multiple teams, it is not necessary for all of those teams to compete on the same day, only members of the same team.
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 three individual scores on each team make up the team score. Scoring on individual tests is as follows:
- +10 points for each correct answer
- -5 points for each incorrect answer
- 0 points for each unanswered question
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 11, 2017.
Scores will be available by logging in at the Finance Challenge web site at the conclusion of the competition!