The term speed-accuracy tradeoff is used when an increase in response speed comes at the expense of response accuracy. Although originally a concept from experimental psychology, the speed-accuracy tradeoff has been a topic in psychological assessment, too. In the first part of the manuscript, we discuss motivational factors that may be responsible for a tradeoff between work pace and effective ability in psychological tests. We address possible modeling strategies and implications for psychological assessment. In the second part of the manuscript, we explore the tradeoff between work pace and effective ability in two empirical data sets. The findings suggest that the relation between work pace and effective ability is more complex than the standard conception of the speed-accuracy tradeoff implies. It seems possible to increase both work pace and effective ability. This might be due to the fact that motivated test takers allocate more mental resources, increase their speed of processing, or have a higher focus on the task.