I think that there should be 2 Cook Off and 2 Lunchtime in a Month…!!
1)It helps a lot in interviews.
2)It helps a lot for ACM ICPC.
3)We will learn how to solve given problems in a given amount of time and become master in it.
4)We will be able to think and write code more fast by more practice.
5)It will become our habit to sit for 2 to 3 hrs and solve problems and so we will not be in tension when we will be giving coding round interview.
6)Sometimes during interview we cannot solve a problem there due to tension but when we come to our room then that same problem is easily solved by us ,so to avoid these things a lot of practice option should be available.