1. Who's running for President this year?
 

Right now, only one thing seems certain: President Barack Obama, a Democrat, is running for a second four-year term and has no challenger from his own party.
 

On the Republican side, the battle to unseat Obama is on. Leading candidates include Mitt Romney, the former Governor of Massachusetts, and Newt Gingrich, the former Speaker of the House.
 

2. How do voters choose a candidate?

Starting this month, Republicans will vote in state primaries and caucuses to choose their nominee. These contests will determine who is nominated at the party's convention in Tampa, Florida, in August.

 

3. Do we really have to wait until August to find out who's running against Obama?

In recent years, it's become clear during the primary season who the presidential nominees would be. This year, whenever a Republican has a majority (1,143) of the 2,284 delegates, he or she will effectively be the party's candidate. However, the formal nominating process takes place at the convention.

Along with picking presidential candidates, national conventions bring party members together every four years to write a platform—a list of positions on the issues. But without the drama of deciding on a candidate, the conventions have largely become four-day made-for-TV ads for the presidential and vice-presidential nominees.

A week after the Republican Convention, the Democrats will meet in Charlotte, North Carolina.
 

4. Could a third party play a role in this year's election?

According to a recent Gallup poll, more than half of Americans are so fed up with both Republicans and Democrats that they think a third party is needed. So far, despite voters' frustrations, no third party candidate seems likely to mount a serious challenge to Obama and his Republican opponent.

In the past, third parties have often arisen to challenge the status quo. But it's difficult for such candidates to overcome the advantages that the major parties have in organization and fund-raising. And the Electoral College is particularly unfriendly to third parties.
 

5. Hold on! What is the Electoral College?

The popular vote—in this case, how many Americans vote for President Obama or his Republican challenger—does not really determine who will occupy the White House next January: It's the winner of the electoral vote.

Under the Electoral College system, each state gets the same number of electors as they have Senators (always two) and members of Congress (which depends on the size of the population).

For instance, California, the biggest state by population, has 55 electoral votes—the sum of its 2 Senators and 53 Representatives. Wyoming, a state with a small population (and 1 Representative), has 3 electors. To win the election, a candidate needs a majority (270) of the 538 electoral votes.

If you're wondering why we have this system, the Electoral College was written into the Constitution by the Founders, partly as a way to ensure smaller states a voice in the election process.
 

6. How do I know if my state is red or blue? And what's a battleground state?

Since the 2000 election, red and blue states have become shorthand for states that are typically won by Republican presidential candidates (red) and Democratic candidates (blue). Election maps often use this color coding to show which candidate carried a state.

States that are neither red or blue are called battleground—or swing—states. They're often where presidential elections are won or lost—and therefore where candidates make their greatest efforts.

What this means is that if you live in, say, Massachusetts, a reliably blue (Democratic) state, or Utah, a reliably red (Republican) state, you may never see the candidates—or their ads.

But if you live in a battleground state, like Ohio, Pennsylvania, or Florida, by November it may feel like Obama and his Republican opponent have moved to your state and taken over your TV.
 

7. What are the key issues in this election?

The biggest issue for most Americans is the tough economy and high unemployment rate. There are also differing views on the role of government and whether to raise taxes on the wealthy to help lower the federal deficit. In foreign affairs, the war in Afghanistan, combating terrorism, and how American can compete with rising powers like China and India are all concerns.
 

8. What are Obama's arguments for re-election?

The President says that he helped the nation avoid another Great Depression in 2009 with his economic stimulus plan and by aiding the auto and financial industries, which were then struggling. He'll also point to the passage of his health-care package, which he says will cut costs and extend insurance coverage to more Americans.

He'll also remind voters that 9/11 mastermind Osama bin Laden was killed on his watch and that he brought U.S. forces home from Iraq.
 

9. What are Republicans saying?

Republicans say that Obama mishandled the economy and has not created enough new jobs. They see the health-care law as a symbol of wasteful government spending. Overseas, Republicans say, Obama has not been tough enough on hostile governments like Iran, which is trying to become a nuclear power.
 

10. Why does this election matter to teens?

Today, America faces enormous challenges at home and abroad. These include reinvigorating the economy, figuring out how to compete in a global marketplace, dealing with climate change, and keeping the nation safe.

Whoever is in the White House next January will have a lot on their plate. How well they deal with the challenges ahead will shape your future—and the nation's.