The study compares the standardized test performance of "chess kids" versus their peers. The comparison of score gains to non-chess peers (same grade and same academic percentile) attempts to eliminate the chicken-and-egg issue that often muddles this topic, that is, does chess make kids smarter or do smart kids simply prefer chess. The data indeed confirm that chess players are generally of higher academic standing (chess kids are smart), but more importantly it statistically shows that learning chess increases a student's academic performance (chess makes them smarter). The evaluation then digs deeper, by comparing kids who have learned perhaps a little chess (coming to chess club only) versus those that are more serious and play in U.S. Chess Federation (USCF)-rated tournaments. A variety of comparisons are made which show that the benefits of chess are strongly tied to "learning" the game; the more you learn, the more you benefit. Kids who come only to chess club receive a small (5%-10%) benefit in Math, whereas kids who play in rated tournaments gain substantially in Math (30%-50%) and significantly in Reading (10%-20%). The benefits also continue to grow as kids play more tournaments and/or increase their USCF chess rating.