What is Personal Finance Decathlon?
In the Personal Finance Decathlon, teams of students compete to demonstrate their knowledge of personal finance by taking an online test covering 10 areas of personal finance.
What are the 10 areas of personal finance?
Thinking Economically, Earning Income, Paying Taxes, Budgeting, Saving, Financial Planning, Investing, Borrowing , Banking and Financial Institutions, and Insuring
Who is eligible to compete? How many teams can I register?
All high school students are eligible. Teachers can register multiple teams of 3-4 students each.
How does the Decathlon work?
Teams of students (3-4 members each) will compete in an online test of the 10 areas of personal finance. All team members must be from the same school. The top 12 highest scoring teams will advance to the state competition, where students will perform a case study analysis. Competition rules and format can be found here.
What rules are there for the online competition?
Teachers must ensure that their competing teams are complying with Decathlon rules, specifically:
- Supervision must be provided to ensure legitimacy
- Team members must be separated during the online challenge
- During the online challenge, students are allowed a blank piece of paper and a pen/pencil
- Calculators, phones, or other electronic devices are not allowed. The use of internet or other resource materials is prohibited.
The sum of the top three individuals scores on each team makes up the team score. There are 10 points awarded for each correct answer and 0 points for an incorrect answer.
How much does it cost to participate?
There is no registration or entry fee to participate in the Decathlon, however all teams will need to invest time and commitment to prepare for the competition. Qualifying teams will be responsible for transportation costs to and from the State Competition in Minneapolis.
The state winner will receive up to $2,000 to support their travel to the National Competition.
When is the 2019 Personal Finance Decathlon?
The online competition runs from January 1-March 11, 2019. The State Competition is April 17 at the Federal Reserve Bank of Minneapolis.
Additionally, the National Competition (for qualifying teams) is May 10 in Lincoln, Nebraska.
What do the online tests look like?
Practice tests for the Decathlon can be found here.
How can we prepare for the case study analysis?
Previous case studies from the state competition can be found at the Personal Finance Decathlon Resources page on our website.