Lyric Duveyoung is credited with writing the test, and yes it's been around for some time. The speed with which you answer the questions is relevant to your score, and some questions have answers that are 'right but not as right' as others. It's value as a test is about as much as the value of any kind of IQ test . . . mostly subjective and not a real measure of ability.
I remember seeing an interview with Lyric during the WSOP
some years back, and they talked about the donkey test. The interviewer asked him about the test and he explained how it came about. Then she asked him what his score was, to which he responded "I wrote the test." And she follows with "but what did you score?" . . . to which he responded "I wrote the test." Then she just gave him a puzzled look.
I believe she was blonde