This story is based upon a real life incident on such a game show in the 1950s, where contestants were given the answers to the questions.
Of course, with Richie being so squeaky clean, we all know he'll do the right thing in the end, but it's still good to see how he get's there.
Also to note with this episode is that Fonzie is seen to have his own garage repair shop for the first time (previously, he had been working in a larger garage with other mechanics). The men's room at Arnold's is gradually being defined as his 'office', too.
All-in-all, this is a nice story, and probably one of the series' most recognised episodes.