Thursday May 24, 2012
It’s not every high school student that can name the head of the Federal Reserve System, quickly calculate someone’s credit limit, or identify the difference between several home mortgages. But for the high school students who competed in the recent Vermont Reserve Cup Challenge, these were questions they handily answered in 10 seconds or less.
Seven Vermont high schools answered the challenge to compete in a recent academic competition sponsored by the State Treasurer’s Office that tests their knowledge of personal finance and economics. Now in its fourth year, the challenge is run in partnership with the Federal Reserve Bank of Boston. Using a game-show-style format, teams progress through rounds of questioning that test their grasp of these subjects. Upon receiving a question, a student must answer within 10 seconds or less. Emerging as the 2012 winner was the South Burlington High School team of Will Bugbee, Theophila Lee, Samm Bellavance, Kevin Wang and math teacher and coach Eric Stone.
SB High School has been the tournament champion for the past three years. In addition to individual trophies, the students also received $250 college savings accounts from the Vermont Student Assistance Corporation, and the right to display the large gold traveling cup for one year.
“The competition is meant to be an incentive for schools to teach and promote personal finance to their students,” said State Treasurer Beth Pearce. “Student knowledge in these areas is reinforced through the tournament and academic skills are rewarded. We want students to not only understand this material, but to not feel intimidated by it.”
The event is underwritten by TD Bank. Members of the Vermont Jump$tart Coalition also supported the competition and volunteered at the event. For more information on the challenge, go to www.MoneyEd.Vermont.gov.
SOURCE: VT Treasurer’s Office