Fed Challenge Frequently Asked Questions (FAQs)
- Who can participate in Fed Challenge?
- How much time will Fed Challenge take?
- How do we put together a presentation?
- Where can we find a particular indicator?
- How long has Fed Challenge been in existence?
- How many teams qualify in each round?
- How many teams participate?
- How are the winners chosen?
- Is the competition public?
- Who are the judges? How many are there?
- May we use notes during the presentation or Q&A?
- When will we find out our scores and comments?
- Who is allowed to attend the local competition?
- How many alternates can each team have? In what way will the alternates be allowed to participate?
- What should I wear during competition?
- Does the Federal Reserve Bank reimburse any of my expenses at the local level?
- Who can participate in Fed Challenge?
- Any high school located within the District boundaries of a participating Federal Reserve Bank may register a team composed of three to five students. The team may designate an alternate who would replace a team member who cannot compete. While many participants have some background in economics or business, members of successful teams need not be enrolled in an economics course. (For example, after-school clubs that focus on economics also have been involved).Back to Top
- How much time will Fed Challenge take?
- Each team prepares for competition a bit differently. To have a complete and exciting presentation, students should do research and be comfortable with the material. For some, this may require meetings before or after school; for others class time will work better. The method and time spent in preparation are entirely up to the team, but as students become familiar with the material through practice, their presentation and comfort level will improve.Back to Top
- How do we put together a presentation?
- The decision on how to create your presentation is a unique one that only your group can decide. However, for some tips, refer to the "Presentations" section of this web site. In addition, the "Teacher Resources" section has information regarding this subject. Be creative with your presentation! The judges will appreciate something interesting and dynamic.Back to Top
- Where can we find a particular indicator?
- We have provided online resources in the "Research" section of the web site. If you're having difficulty finding a particular statistic, the Federal Reserve Bank of St. Louis provides many figures through its FRED2 directory. If you still need assistance, ask your individual Federal Reserve Bank's Fed Challengecontact person for help. Back to Top
- How long has Fed Challenge been in existence?
- The competition began at the Federal Reserve Bank of New York in 1995. Currently, the Federal Reserve Banks of Chicago and New York participate in the program.Back to Top
- How many teams qualify in each round?
- For each round of competition, a minimum of one team will progress to the next level. Back to Top
- How many teams participate?
- At the local level, there is no limit to the number of participating schools. Some participating Reserve Banks allow one team per school and others allow two teams per school.Back to Top
- How are the winners chosen?
- Each team is evaluated according to a five-category scoring rubric on a scale of one to ten. The team with the highest cumulative score wins the competition. Back to Top
- Is the competition public?
- Attendance rules for regional competitions vary. At all levels of competition, presentations might be videotaped and members of the media might be present.Back to Top
- Who are the judges? How many are there?
- There are two or three judges at local and District competitions.Back to Top
- May we use notes during the presentation or Q&A?
- You may refer to notes during your presentation and Q&A period. However, you may not read straight from your notecards; they are to be reminders of what you intend to say, not a script. The more comfortable your team is with its presentation, the better it will sound. Whenever possible, speak in your own words (recitation can get boring). A presentation need not be memorized word for word. However, the presentation is timed, so it is recommended that you map out and rehearse it ahead of time.Back to Top
- When will we find out our scores and comments?
- For the regional and District competition, you will receive your scores with comments after the awards presentation.Back to Top
- Who is allowed to attend the local competition?
- You may bring family, students, teachers, and friends to be in the audience during your presentation and Q&A session. They may observe your own team, but not other teams' presentations. You should remind anyone you invite to the competition that security at some Federal Reserve Banks requires a government-issued photo I.D., such as a driver's license or passport, as part of the visitor check-in process. In some cases, names of attendees must be submitted before the competition. You should confirm the security requirements of the host Federal Reserve Bank in your District.Back to Top
- How many alternates can each team have? In what way will the alternates be allowed to participate?
- Each team is allowed one alternate who should be prepared to compete in the presentation part of the competition in the event one of the regular team members is unable to compete. At the District level, some Reserve Banks allow the alternate to witness the team's presentation and participate in the Q&A session. At the national level, the alternate is a witness only and is not allowed to participate in the Q&A part of the competition. Some participating Reserve Banks pay the alternate's travel expenses to the national competition.Back to Top
- What should I wear during competition?
- Business attire or interview clothes are appropriate.Back to Top
- Does the Federal Reserve Bank reimburse any of my expenses at the local level?
- Expenses at the local level are the responsibility of the individual school. Some banks have exceptions for long distance travel; please check with the local coordinator.Back to Top
