The purpose of this paper is to lay a basis for and discuss the components of a system, called COMET, designed to objectively measure and evaluate the competency of trainees in military training enterprises. COMET is an acronym for "Computerized Objective Measurement and Evaluation of Trainees." These goals will be accomplished by: (a) describing what the author means by the terms "measurement,""objectivity," and "evaluation," by indicating systems antecedent to COMET, and describing the objective Binary Measurement Model (BMM) used in the COMET system, (b) deriving and illustrating a new procedure for estimating one of the parameters and fit of the BMM model, called the Frequency Ratio Method (FRM), and (c) specifying the component subsystems, and their functions, of COMET as well as its goal, objectives and practical problems associated with its implementation. A detailed numerical example is provided to facilitate understanding of COMET's mathematical and statistical aspects. (Author)