Research on the explanatory style model of optimistic mind-set has burgeoned in the last decades. The present study presents the first examination of a new measure of the optimistic mind-set, the MQ Test. The MQ Test uses 36 personal and work situations for prompting responses; however, it applies a situational judgment test approach. In the present study, cross-sectional data with 437 Hungarian employees showed low to acceptable level of internal consistency and good test-retest reliability for the subscales. Exploratory and confirmative factor analyses provided evidence for separate sub-dimensions of negative (N) and positive (P) events. Accordingly, a 14 item Short MQ Test version was developed with P and N subscales. Structural equation models showed that P and N were differently and positively related to dispositional optimism, hope, self-esteem, self-efficacy and satisfaction with life. The limitations and potential merits of the MQ Test are discussed, along with its potential further development.