Rock Bridge High School students placed second in the nation in the first National Personal Finance Challenge on May 20 in Kansas City.
Members of the team included Kevin Dorst, Alan Hatfield, Justin Lidholm, and Alec Wright. The team was coached by Rock Bridge personal finance teacher Susan Lidholm. Team members won more than $1,000 each for their efforts in regional, state, and national competitions.
The school’s finance team competed against 12 teams from around the country, and team members were treated to a variety of educational activities and presentations.
The students had to answer questions like:
1) A bond that allows the issuer of the bond to retain the privilege of redeeming the bond at some point before the bond reaches the date of maturity is called a ___?;
2) A payment which does not full amortize over the term of the note, thus leaving a balance due at maturity is called a ___?;
3) A 529 plan is a tax-advantaged investment vehicle in the United States designed to encourage saving for?; and
4) A written authorization from a stockholder that empowers someone to vote in his or her behalf is a __?
The competition culminated with a “quiz bowl” finale between Rock Bridge and a team from Minnesota.
The Missouri Personal Finance Challenge is a competition for students in grades 9-12 from public, private, charter, or home schools in Missouri to demonstrate their knowledge of personal finance economics. The goal of the Personal Finance Challenge is to recognize students and teachers who are setting high standards for achievement in personal finance courses, which are a new requirement in Missouri’s public high schools. The competition consists of written questions followed by a “quiz-bowl” round of questions with verbal answers. The Missouri Personal Finance Challenge is a cooperative endeavor of the Missouri Council on Economic Education and the Centers for Economic Education, which are located at the University of Missouri campuses in St. Louis, Columbia, and Kansas City; Drury University (Springfield); and the University of Central Missouri (Warrensburg). The program is supported by the Federal Reserve Banks of St. Louis and Kansas City.