Here's what we know so far about the upcoming syndicated version of "Are You Smarter Than a Fifth Grader?":
-The top prize is now down to $250,000. This personally sounds just right for this version of the show unlike the previously reported $500,000.
-The format is considerably different. There will still be three cheats and ten questions with two questions for each grade level. Each 1st Grade question is worth $500, 2nd Grade questions are worth $1,000 each, 3rd Grade questions are worth $2,500 apiece, 4th Grade questions are worth $3,500 a pop and the 5th Grade questions are each worth $5,000. For each question a contestant answers correctly, the dollar amount is put into his/her bank. However, every incorrect answer loses all the money in the bank earned up to that point. Finally, on this version, the only time you can drop out is just before the 5th Grade Bonus Question, which is worth ten times the contestant's bank up until then.
-Those who flunk out leave with either a $250 Best Buy gift card (if they had less than $2,500 heading into the bonus question or they missed their last question in regulation) or a $2,500 Best Buy gift card (if they had at least $2,500 heading into the bonus question).
Various sources contributed to this report.