The need for a Hispanic edition of a culture-fair school readiness test was a major motivation for the development of the Spanish language edition of the Lollipop Test. The purpose of this study was to examine the concurrent validity of the Spanish edition of the Lollipop Test as an appropriate alternative preschool assessment instrument for bilingual Hispanic children using the Developmental Indicators for the Assessment of Learning-Revised (DIAL-R) as the criterion in a concurrent validity assessment. A strong multivariate relationship existed when preschoolers took one test, La Prueba Lollipop, in Spanish and another, the DIAL-R, in English (rcanonical = .793). These results support the concurrent validity of La Prueba Lollipop with bilingual Hispanic children. An additional analysis was made of the regression line comparison of the Spanish and English forms of The Lollipop Test using the DIAL as a criterion. No ethnic group bias was detected.