Quiz Bowl is brought to you in part by New Perspectives Inc.

It's about more than your portfolio.

It's about your life.

Welcome to the Mississippi Quiz Bowl!

I'm your host Keri Horn, and today’s competition is the Personal Finance Challenge.

Today, we gather to celebrate financial literacy and empower our participants to navigate the complexities of personal finance with confidence and skill.

This event promises to be an exhilarating showcase of knowledge, critical thinking, and practical application.

Our final teams have competed in a reginal challenge earlier today, and have proven themselves to be the best.

Now, the final round of the challenge is being televised by Mississippi Public Broadcasting!

As I mentioned before, my name is Keri Horn, and I'll be your host today.

Our quiz bowl judge is Daniel Elliott, President of Rankin County Cadence Bank.

He is assisted by Michael Sisco of the MS Department of Banking and Consumer Finance and Reuben Smith with Cadence Bank.

Organized by the Mississippi Council on Economic Education, the Mississippi Personal Finance Challenge Quiz Bowl is more than just a competition; it is an opportunity for students to develop essential life skills that will serve them well beyond the classroom.

Now through a series of challenging scenarios, participants will answer questions from various financial literacy topics.

Ranging from budgeting and savings, investing and retirement planning.

To my right we have Bogue Chitto and to my left we have Wayne Academy.

Let’s learn a little bit about our contestants!

Hi, I'm Leigha Gates and I'm from Bogue Chitto.

And my favorite hobbies is to hunt and fish.

Hey my name is Zoey Freeman and I'm from Bogue Chitto.

And I’ve fallen close to thirty times.

Hey everybody.

My name is Raylee Chisholm from Bogue Chitto.

A fun fact about me is I pet pig that stays in my house.

Hi everyone.

I'm Kylie Davis.

I’m from from Bogue Chitto.

My fun fact is I'm the only left-handed person in my family.

My name is Keylee Demas.

I'm from Northwest Academy.

And my fun fact is I can’t hear out of this ear right now.

I have a severe ear infection.

Hey my name is Bristol Holland.

My fun fact is I’ve been the same height since fourth grade.

Hi my name is Andie Hall.

I'm from Wayne Academy.

My fun fact is I love telling dad jokes.

Hi my name is Anniston Crane.

I'm from Wayne Academy.

And my fun fact is I have a webbed toe on my right foot.

Now everyone let’s review the rules: There will be three rounds of questions.

One point is awarded for each question answered correctly.

Only after the question has been read in full can a team buzz in to give the answer.

Teams have 10 seconds to buzz in during which time they may consult with each other.

Once a team has buzzed in and is recognized, the team member who buzzed has 5 seconds to give the answer.

If an incorrect response is given, the other team will have the opportunity to hear the entire question again and then have 5 seconds to respond.

As we begin this thrilling journey, we encourage all participants to embrace the spirit of friendly competition, collaboration, and learning.

Good luck to both teams!

And now let the Mississippi Personal Finance Challenge Quiz Bowl begin!

Round 1: Are ya’ll ready?

Alright.

Here we go!

Question number one.

Alright, it’s Wayne Academy.

Gross pay.

That is correct.

Good job.

Alright next question.

Bogue Chitto.

Net income is after taxes and everything is taken out and gross income is before.

That is correct.

Yes.

Alright, and next question.

Watch your time.

I'm sorry.

Time is out.

The answer is earned income.

This is also a learning show.

We get to learn.

I like that part about.

Alright, next question.

Alright, Wayne Academy.

It provides them with more job skills and more experience.

That is correct.

Next question.

Wayne Academy.

Opportunity cost.

That is correct.

Next question.

Alright Bogue Chitto.

One going to college and spend money on student loans instead of just going to work.

But then you’re going to, like, make more money at the end.

That is correct.

Alright, next question.

Wayne Academy.

Social security tax and Medicare.

That is correct.

Alright, next question.

Wayne Academy.

It provides them more privacy from working at home.

That is correct.

To have control over their schedule, potentially earn higher income.

My favorite part, you get to wear what you want and you can’t get fired.

That’s what I like about that.

Alright, next question.

I'm afraid time is out.

A W-2 and I can tell you your parents definitely know what that is.

Next question.

Wayne Academy.

Medicare That is correct.

Alright, next question.

Alright, Wayne Academy.

Being a nurse, and a doctor.

That is correct.

Yeah.

There are a bunch of them out there.

Engineers all sorts of them out there.

Alright.

Next question.

Alright, Bogue Chitto.

Because you have more education.

That is correct.

Next question.

Alright Wayne Academy.

They can get a higher degree like bachelor’s or doctorial That is correct.

Next question.

Alright Bogue Chitto.

It’s a plan for how you spend your money.

And it helps you not spend over.

That is correct.

Alright, next question.

Alright, Bogue Chitto.

Fixed expenses That is correct.

Alright, next question.

Alright Wayne Academy.

They are groceries and........gas.

That is correct.

Yes.

Alright.

Next question.

Alright, Wayne Academy.

Income, expenses and your net pay.

Yep that is incorrect.

I'm sorry.

I’ll repeat the question for Bogue Chitto.

I'm afraid that’s time out.

The answers is housing, food, transportation and there are lots of others too.

And next question.

Alright, Wayne Academy.

Spend more money than you have and go into an overdraft.

That is correct.

Next question.

Alright, Wayne Academy.

Choosing one option over another.

Like your value.

Choosing one option over another.

Ok yes that’s correct.

Alright, next question.

Alright, Wayne Academy.

The higher price may not be the best quality and the lower price may be the better quality of the two.

That is correct.

Alright, next question.

Alright, Bogue Chitto.

Credit card is money you can spend, but don’t have and pay back later.

Debit card is money you have and can spend.

Correct Alright.

Next question Cash is physical and you can see when you are spending it.

So they can see when they are taking it out their wallet.

That is correct.

Alright, and last question of the round.

Alright, Bogue Chitto.

House and food.

That is correct.

And that is the end of Round 1.

Our current scores are Wayne Academy with 13 POINTS and Bogue Chitto with 07 POINTS.

And we’re going to get started with our next question.

Alright Wayne Academy.

A person can see the commercial and want to buy it.

An example of impulse buying.

Like you see a commercial about a drink that you want.

You want to go buy it.

That is correct.

Alright, next question.

Alright, Wayne Academy.

It is a good plan so you don’t spend over and go into overdraft.

And you can minimal your payments.

Ok, that’s correct.

Alright, Bogue Chitto.

You might spend money on stuff you don’t really want, but people make you want to buy it.

That’s correct.

Alright next question.

Bogue Chitto.

You get a debt you have to pay back with interest.

That is correct.

Alright next question.

Alright, Wayne Academy.

Savings account That is correct.

Alright, next question.

Alright Wayne Academy.

In case of emergencies like a care wreck or anything like that.

That is correct.

Alright, next question.

Wayne Academy.

It is the formula to see how much your money will double.

That is correct.

Yes.

Next question.

Alright.

Compound Interest.

That is correct.

Next question.

Alright.

A savings account grows interest.

A checking account does not.

That is correct.

Next question.

Alright.

If you have a goal like you want to go on vacation for $5000, it helps you save and not spend as much.

Like impulse buying.

That is correct.

Alright, next question.

Alright.

In case they get in a car wreck and they need some money.

That is correct.

Also with all of our hurricanes and storms that we have around here, it is very important to have an emergency fund.

Alright, next question.

Alright.

The original amount of money.

That is correct.

Next question.

Alright.

Because that’s the money you gave them to borrow to, like, make out loans.

That is correct, yes.

Yes You can earn interest on them, and they’re guaranteed safe.

That is correct.

Next question.

Alright, Wayne.

Academy Saving your money, you’re just putting it in a back to save it.

Investing you can grow more interest and investing is like, investing in a business or something.

That is correct.

Next question.

Alright Bogue Chitto.

Stocks and bonds That is correct.

Next question.

Watch your time.

I'm afraid that is time out.

Alright, next question.

Alright.

Diversification.

That is correct.

Diversification it’s ok. We knew what you meant.

Alright last question for this round.

Alright, Wayne Academy.

With a risk you, may have a higher payment in an investment.

With a low risk, it’s a safer optoion but you may not get as much money.

Correct.

At the end of Round 2, and I see that we have Wayne Academy with 24 POINTS and we have Bogue Chitto with 14 POINTS.

So now we are going to our third and Final Round: Alright first question.

Bogue Chitto.

You earn more compound interest every time because the longer it’s in there.

Next question.

Alright, Wayne Academy.

With a risk you may earn more money.

And with the, what was the other word?

Risk and potential investment return.

Potential investment returns may both earn potential money.

That is correct.

Alright, next question.

Alright Bogue Chitto.

Profit.

Ok, yeah.

We’ll accept that.

We were going for capitol gain, but that is a profit.

Alright, next question.

Alright, Wayne Academy.

Credit is money borrowed.

That is correct.

Alright, next question.

Alright, Bogue Chitto.

The rate at which you earn interest on whatever you either you bought or bank below.

Yeah we’ll accept that as an answer.

Alright, next question.

Alright, Wayne Academy.

With a low interest rate, most people don’t get you for a job.

So with a higher one, you may get a better job.

With a lower one you won’t get a better job and better income.

That’s not exactly what we were talking about.

I’ll re-read the question for Bogue Chitto.

You can be less likely to get a loan if you have a lower credit score.

Yeah that is correct.

We were talking about getting a loan instead of getting a job.

That’s why that was correct.

Alright, next question.

Alright, Wayne Academy.

Annual Percentage Rate That is correct, yes.

The cost of borrowing money each year is what that is.

Alright, next question.

Alright, Bogue Chitto.

If you miss a payment, you’re going to have more interest, and your credit score is going to go down.

So you’re less likely to get a loan in the future.

That is correct.

Next question.

Alright.

and deposit No that’s incorrect.

So I’ll repeat the question for Wayne Academy.

This is actually a money market account.

Next question.

Alright.

Credit score.

That is correct.

Alright, next question.

Alright.

By putting more money into their savings account each month.

We’re actually looking for something else.

So I will repeat the question for Wayne Academy.

Ok.

They could set a budget to go by.

Still not quite what we’re looking for.

We’re looking for an answer like... And that type of thing.

Alright, next question.

Alright.

You have a more time period to pay the borrowed money back.

That is correct.

Alright.

Like paying back, like, each month however much you’re supposed to.

The amount in full.

That is correct.

Next question.

To keep things secure that you have.

So if, lose or damaged, insurance will help you get that back.

That is correct.

Health and life.

That is correct.

Also auto insurance.

Things like that.

When you go to the doctor, you may have a high deductible or low premium.

So it help them pay.

That is correct.

It helps to reduce the financial burden when you do go to the doctor.

If you’re in an emergency and you need money, like, if you lose your house, or you lose your job, that money will help you get an apartment or something.

That is correct.

The amount of money you have to pay before the insurance can cover anything.

That is correct, yes.

If you get into an accident that’s not your fault, insurance will pay to cover your car.

That is correct.

Some people, if their credit score’s high, that shows they’re more trustworthy.

So they’re less likely to get in accident, so they’re less likely to give their money.

That is one reason why.

There are several different factors actually, but that is correct.

How much your car is worth.

All that sort of good stuff.

Alright.

To make sure you’re getting the best plan.

That is correct.

And to make sure you understand the costs.

They tell you always read the fine print for everything.

When somebody steals your identity and they go to a bank and use your money or your stuff.

That is correct.

Alright, this is the last question of the round and the last question of the game.

Do not share your passcode and when a website pops up, do not put your passcodes in.

If you could tell my mother that, that would be awesome.

Thank you.

That is correct.

That concludes our Final Round.

With our final scores of Wayne Academy with 33 and Bogue Chitto with 26, that means that Wayne Academy is our winner for today’s game!

Congratulations!

Very good!

Great job!

But I want to extend our sincerest congratulations to all participants of the Mississippi Quiz Bowl Personal Finance Challenge.

To the students and academic coaches who have dedicated countless hours of preparation, your hard work and perseverance have not gone unnoticed.

You have exemplified the spirit of intellectual curiosity and academic excellence, and we commend you for your outstanding achievements.

Congratulations again to both teams!

I’m Keri Horn, thank you for watching the 2025 Mississippi Personal Finance Quiz Bowl!

We hope to see you next time!

The lead sponsors are State Farm, Wells Fargo and Ballew Wealth Management.

Your commitment to education and the advancement of personal finance literacy has made a profound impact on the academic community, and we are deeply grateful for your partnership.

Funding for this program is provided in part by viewers like