The average cost of a ransomware attack in 2022 was $4.49 million and the recovery time rose from 7.8 days in 2021 to 14.9 days in 2022. Organizations often bring in professional negotiators to represent them during these attacks to lower ransom demands, buy time for incident response, get evidence of decryptors, and determine who is behind the attack; these research and negotiation skills fall under the area of social engineering. This paper shares a case study of a real-time virtual Ransomware and Social Engineering Competition (RSEC), which occurred in summer 2022 and hosted 8 high school and 6 undergraduate teams. The paper demonstrates how students learned about using psychological persuasion in ransomware negotiations, leveraging OSINT and the ATT&CK framework for attack attribution, and interfacing with the clients to best represent their needs. The paper discusses how the skills and knowledge stemming from RSEC are mapped to the NICE framework.