Illinois Personal Finance Challenge
Overview
The Illinois Council on Economic Education, in conjunction with its Centers for Economic Education throughout the state and the Federal Reserve Banks of Chicago and St. Louis, is pleased to announce the new Illinois Personal Finance Challenge.
- Press Release of April 22, 2008, announcing the
Illinois Personal Finance Challenge. - Online Flashcard Quiz! You will flip over this fun way to prepare for the Illinois Personal Finance Challenge!
The Illinois Personal Finance Challenge (IPFC) is designed to recognize students who demonstrate high levels of comprehension and application of personal finance concepts and skills, and reward teachers for outstanding practices in teaching personal finance courses. With all students in Illinois required to take a consumer education/personal finance course, this is the perfect way to engage them more fully in their learning and to assess how well they are meeting the state mandate. This program is endorsed by Illinois State Treasurer Alexi Giannoulias, a strong supporter of financial literacy education in Illinois.
This competition will include a preliminary first round that is online, making it possible for every school in the state to participate. Teams with the highest scores on the preliminary round will then compete in the state finals, to be held in Chicago, where a state champion team will be determined.
Description
Preliminary Round
For the preliminary round, teams of high school students, four students per team, will take an online test of 30 questions. The top 2 teams from each of 5 regions in the state, plus the next ten highest-scoring teams in the state will advance to the state finals in Chicago. Teachers will be provided (posted here) all the rules of the program so that they can prepare their students throughout the fall and/or spring semesters.
State Championship Competition
At the championship competition, the twenty teams will take a set of written tests to determine the two finalists. The two teams with the highest team scores on the written tests will advance to the final quiz bowl round.
Awards
Members of the winning first-place team at the state competition and their teacher-sponsor will each receive $500 Series I US Savings Bonds, medals, and a trophy for the school. Members of the second-place team and their teacher will each receive $250 Series I savings bonds and medals. Every participant in the state finals will receive a T-shirt and a certificate of participation. Each participating school in the state finals will receive a plaque noting their participation in the finals.
All schools in the state who participate in the preliminary round will receive a certificate of recognition.
Timeline
Spring/Summer 2008
Announcement of the new Illinois Personal Finance Challenge (IPFC) for the 2008-2009 academic year. Official rules will be posted on the IPFC web page. Workshop schedules will be posted.
September 2008 through February 2009
Workshops for teachers through ICEE Centers for Economic Education and ICEE staff on how to prepare students for the IPFC. Online resources will also be made available for teachers.
February through early March 2009
Registration for the online preliminary round will be open.
March 2009
Online competition held, with students testing under the guidelines established.
March 2009
State finalists announced; these teams will compete in the State Challenge in Chicago.
April 2009
The First Annual Illinois Personal Finance Challenge Championship Round for twenty finalist teams will be held in Chicago.
Summer 2009
Evaluation of 2008-2009 program and preparation for 2009-2010 program and competition.
Fall 2009 Spring 2010
Implementation of Illinois Personal Finance Challenge, Year 2.
Official Rules
(Added when available summer 2008)
Teacher Workshops
(Added when available summer 2008)
Resources
- Online Flashcard Quiz. You will flip over this fun way to prepare for the Illinois Personal Finance Challenge!
- For assistance with teaching Economic Education, contact the Center for Economic Education nearest your school, or call the Illinois Council on Economic Education office at 815.753.0356.
- (Additional online resources will be posted as available.)
Page Updated May 28, 2008