Illinois Personal Finance Challenge

>> West Chicago Community High School represents Illinois at National Finals!

The IPFC recognizes students who demonstrate high levels of comprehension and application of personal finance concepts and skills. It also acknowledges educators like you for outstanding practices in teaching personal finance. 

Middle School

When you share personal finance topics in your classroom, students learn how our market economy works. Add an element of competition and watch the incentive to learn increase dramatically!  

High School

High school students are required to take a consumer education/personal finance course or coursework. The IPFC competition is the perfect way to engage your students and to assess how well they are meeting the Illinois economic and financial literacy standards.

Teachers of the following courses will be most interested in participating:

  • Business
  • Career & Technical Education
  • Economics
  • Entrepreneurship
  • Family & Consumer Science
  • Personal Finance

Online Competition 

Teachers, register on the Finance ChallengeOpens in new window website. You’ll find step-by-step directions as you register.

The online competition provides accessible online testing, so every school in the state can participate. Classes are broken into teams of three or four students before answering a randomized 30-question online test. To prepare students, you are provided all the rules of the program and resources to support Illinois learning standards. There are no participation fees.

Middle school: Top-scoring teams for the middle school competitions receive medals and certificates. 

High school: The top-scoring high school team from each of five regions in the state, plus the next five highest-scoring teams in the state advance to a state finals competition at the Federal Reserve Bank of Chicago. 


State Championship Round

High school: At the state competition, the student teams take a set of written tests and compete in a Case Study presentation to a business professional. The two teams with the highest team scores in four rounds of competition advance to the final Quiz Bowl. 

National Finals

High school: The first-place Illinois team participates in the National Personal Finance Challenge held at the University of Nebraska-Lincoln during May.  The NPFC will be a Case Study format with no written tests.

The Illinois Personal Finance Challenge is a program of Econ Illinois brought to you through support from our partners and donors, with special recognition to Illinois State Treasurer Michael W. Frerichs for his endorsement and generous support.