Gov's logo small2018 State and Regional winners listed here!

An online and live competition for Virginia high school teams. There’s no charge to compete!

  • Get students fired up about economics and personal finance
  • Motivate them to learn and excel
  • Encourage healthy competition and school pride

How Does the Online Challenge Work?

Teams of up to 4 students compete in one or two divisions: Personal Finance and Economics divisions (described below). Each team member has 35 minutes to complete a 30-question online exam with questions that align with Virginia’s economics and personal finance SOLs. Registration begins January 1, 2019 and students can log in to compete:
   March 1-12 by 3pm for Personal Finance
   March 1-20 by 3pm for Economics Divisions (Adam Smith & David Ricardo)

In each of three divisions, the winning team in 9 regions will be acknowledged and win a trophy. Regions are based on 8 regions set by the Virginia Department of Education and one region for multidivision online teams. Teachers may obtain individual and team test scores from the online test once the testing window closes.

How Does the Championship Competition Work?

Up to 12 teams in each division are invited to compete in the Championship held in Richmond, April 11, 2019. Regional winners in the Online Challenge as well as top scoring teams (not to exceed one team per teacher in that division) are invited.

In the Personal Finance division, invited students present recommendations based on issues set out in a case study. A written portion is submitted in advance. Click here for details. In each of the Economics divisions (Adam Smith and David Ricardo) students test their knowledge in the morning. Students from the top scoring teams face off in a Quiz Bowl to determine the top team. Virginia’s state championship teams and their teacher from each division may be able to participate in national competitions with most expenses covered as explained here.


Personal Finance

For students enrolled in a course that includes some personal finance content

Adam Smith

IB, AP, honors, college-level or 2-semester micro/macro econ course

David Ricardo

1-semester general econ course – including courses taught to satisfy the Economics and Personal Finance requirement – or any course that teaches econ-related content not labeled AP, IB, honors, or college level (Government, Business, World Geography). Teams that participated in a previous State Championship must compete at Adam Smith level.

Register Online

Teacher registration begins online January 1, 2019. Once registered, teachers create student teams of 3-4 students per team.
For Adam Smith and David Ricardo (economics divisions), register at
For Personal Finance, register at

Additional information

Important Dates
Personal Finance Case Study
2018 State and Regional Winners
Championship Challenge Details
National Championships
Past Winners


Ruth Cookson or 757.683.5570 for questions regarding the Online Challenges.

Thanks to the sponsor of Governor’s Challenge, Capital One.  Additional thanks to the VA Department of Education and members of the business community who serve as judges for final championship rounds.