Irvington High School wins N.J. Consumer Bowl finals

    High schoolers from Essex, Monmouth and Burlington counties will compete today in New Jersey’s final Consumer Bowl competition.

    Irvington High School, Freehold Township High School and Moorestown Friends School won region titles in North, Central and South Jersey, respectively, and will now compete in the state division.

    Update, 6:30 p.m. Irvington High School claimed the state bowl title when the students were correctly able to answer the following question:

     

    “One type of investment fraud involves misconduct by brokers with control of investor accounts. If a broker conducts unnecessary buying and selling within a client’s account, solely to generate extra commissions for himself, and not for the benefit of the investor, the broker is acting unethically and may be breaking the law.  The investor may end up paying more in commissions than he or she earns on the investments. What is the name of this scam?”

    It’s called “churning,” by the way, and the answer gave Irvington 110 points, putting Freehold in second with 100 points and Moorestown Friends in third with 70.

    The three teams beat out nearly 100 other schools to make it to the final challenge, in which they were grilled on consumer rights and issues. Freehold was the defending champion, Irvington was the 2010 victor and Moorestown has been South Jersey’s top winner for two years in a row.

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