A directly applicable latent variable modeling procedure for classical item analysis is outlined. The method allows one to point and interval estimate item difficulty, item correlations, and item-total correlations for composites consisting of categorical items. The approach is readily employed in empirical research and as a by-product permits examining the latent structure of tentative versions of multiple-component measuring instruments. The discussed procedure is straightforwardly utilized with the increasingly popular latent variable modeling software M"plus", and is illustrated on a numerical example. (Contains 1 footnote.)