Canada’s securities regulators are raising the awareness of investing concepts among young people by launching the second annual Test Your Financial I.Q. Contest.

The essay contest’s goal is to encourage Canadians from 14 to 18 years of age to learn more about investing. To participate, young people must submit a 500- to 750-word essay in English or French answering the following question: It’s your future. So how are you going to pay for it?

The contest begins on October 15 and runs until Feb. 27, 2004. The Canadian Securities Administrators will award 13 provincial and territorial prizes of $750 each in April 2004 during Investor Education Month. The national grand prize of $2,500 will be announced in May 2004.

“Young people are tomorrow’s financial consumers,” says CSA Chair Stephen Sibold. “This contest encourages young people to expand their financial knowledge in pursuit of their goals.”

Last year’s contest resulted in 400 essay submissions across the country. The national grand prize was awarded to Elizabeth Penner, 14, of DeBolt, Alberta, whose essay “Spending My Money Wisely” discussed how her saving and investment strategy will allow her to meet her personal goals.