It's a 1-hour competition with 3 traditional algorithmic tasks. You will receive points for every test case your solution passes so you can get some points with partial solutions as well. Check the contest page for more details about contest schedule and rules.
The problems have been prepared by me and tested by Arpa. There are prizes for top 3 contestants: $75, $50 and $25 Amazon gift cards respectively. In addition, the top 5 will win HackerEarth t-shirts.
Good Luck and High Ratings!