Well no, not exactly... =)
Think of this more as a methodology contest as opposed to mundane homework. Basically, questions/tasks are asked that are designed in such a way that they can have multiple answers, those answers being a creation demonstrating the requested result. Those creations that are verified as being "correct" are rewarded based on the efficiency of the answer.
As to what the prize(s) will be, the duration of the contest(s), and who will manage the questions and answers, that is still up in the air.
If you have any additional things you want to add to this concept, please don't hesitate to post your ideas here!
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RX-12 - Bydo Coefficient Test Unit
"No, don't try and pull any fast ones. There's nothing illegal on the Internet."
"Hello extremely! I hope you like to *play*. Some *campers* are not so good for *games*. Is it time for *playing* yet?"
Asker: How do I remove the border on a GroupBox in .NET?
Answer: Use a panel instead?
Asker: Gee, thanks @$$.