You can get this quest after finishing "The Ancient One" quest
After you saved the Dream World from the threat posed by Mt. Killjoy (whether by defeating the Ancient One or the Emerald Witch), the leaders of each of the cities started murmuring that you were just lucky and doubting your skills. Chief Leana informed you of this, explaining that only by defeating each of them in a duel will you be able to gain their respect.
- Defeat Sheriff Graham.
- Defeat Emerald Princess.
- Defeat Councilor Troi.
- Defeat Governor Neo
- Defeat Mayor Nelson
Chief Leana "Thank you for saving the Dream World, ... Please enjoy your stay in Lakeview."
"Oh you are indeed the greatest warrior."
You are rewarded skill ring
The item has been added to your inventory.
You received ... experience!
... Item: Skill Ring ( +100 max skill points )
... 0-... experience (update, 138 million exp given for completion at level 56 on May 6, 2012)
(update, 1 222 289 795 exp given for completion at level 67 on s2, August 10, 2012)
(update, 191.822.862 exp given for completion at level 59.2 on s2)
Based on this i would assume that the reward is around 1-2% of the exp you need to level up?