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President Trump accused "Fox News Sunday" host Chris Wallace of misrepresenting the difficulty of a cognitive test that he recently took, claiming: "The first two questions are easy, but I bet you couldn't even answer the last five questions. They get very hard."

Why it matters: Trump has accused his opponent Joe Biden of being mentally incompetent and unable to serve as president because of his alleged cognitive decline. As Wallace pointed out, a Fox News poll found 47% of respondents believe Biden has the mental soundness to serve effectively, compared to 43% who believe the same of Trump.

The exchange:

TRUMP: "Let's take a test right now. Let's go down. Joe and I will take a test. Let him take the same test that I took."
WALLACE: "Incidentally, I took the test too when I heard that you passed it. It's not – well it's not the hardest test. They have a picture and it says “what’s that” and it’s an elephant."
TRUMP: "No, no, no. ... You see, that's all misrepresentation."
WALLACE: "Well, that's what it was on the web."
TRUMP: "It's all misrepresentation. Because, yes, the first few questions are easy, but I'll bet you couldn't even answer the last five questions. I'll bet you couldn't, they get very hard, the last five questions."
WALLACE: "Well, one of them was count back from 100 by seven."
TRUMP: "Let me tell you ... you couldn't answer -- you couldn't answer many of the questions."
WALLACE: "Ok, what's the question?"
TRUMP: "I'll get you the test, I'd like to give it. But I guarantee you that Joe Biden could not answer those questions."

How it works: The Montreal Cognitive Assessment, or MoCA, screens for mild cognitive dysfunction. It measures areas such as attention and concentration, executive functions, memory, language among others. A score of 26 out of 30 is considered normal.

Editor's note: Updates with details on the Montreal Cognitive Assessment.

Go deeper

Trump says he doesn't remember being tested for COVID-19 before first debate

President Trump and Joe Biden at the first presidential debate on Sept. 29.

President Trump said during a town hall event aired on NBC News Thursday that he does not recall being tested for the coronavirus before the first presidential debate on Sept. 29.

Why it matters: The president tested positive for the virus on Oct. 2, just three days after standing onstage with former Vice President Joe Biden. The Commission on Presidential Debates requires that candidates test before the event.

Inflation threatens Latinos' buying power

Expand chart
Data: Hispanic Index of Consumer Sentiment; Chart: Jacque Schrag/Axios

Latinos in the U.S. are less optimistic about the economy than they were a year ago as inflation threatens to cut into their buying power.

Why it matters: Latinos have been economic growth drivers for the past decade, opening new businesses at faster rates than other groups and increasing their homeownership rates. The group's overall output would make them the seventh-largest GDP in the world if they were a country.

First look: Frontline Dems seek cover with bipartisan police bill

Rep. Josh Gottheimer. Photo: Tom Williams/CQ-Roll Call, Inc via Getty Images

Moderate Frontline Democrats facing tough reelection fights are teaming up with House Republicans on a bill that would effectively help fund the police, according to a copy of the bill text obtained by Axios.

Why it matters: One of Republicans' core and most effective campaign attacks to date is their messaging around progressive rhetoric to "defund the police." Moderate Democrats have long tried to dodge that narrative, acknowledging its political peril despite their support for broader police reform.