The psychometric properties of a Figural Analogies Test are described within the framework of Item Response Theory. Thirty-six 2x2 matrix figures were constructed by using location, distortion and number rules. The sample included 499 psychology students from the University of Buenos Aires, 79% of whom were women. The 3-Parameter Logistic Model was used obtaining a highly satisfactory global fit at 5% (p = .47). Only 3 items did not fit the model. It had good overall discriminatory power (a: M = 1.02, SD = .33), a medium level of difficulty (b: M = -.03, SD = .63) and the c level was slightly lower than expected with six possible answers (c: M = .14, SD = .05). The conditions for modelling the test and possible disadvantages of the present study are discussed.