This study aimed at the evaluation of a simplified Italian matrix test (SiIMax) for speech-recognition measurements in noise for adults and children. Speech-recognition measurements with adults and children were conducted to examine the training effect and to establish reference speech-recognition thresholds of 50% (SRT50) and 80% (SRT80) correct responses. Test-list equivalency was evaluated only with adults. Twenty adults and 96 children—aged between 5 and 10 years—participated. Evaluation measurements with the adults confirmed the equivalence of the test lists, with a mean SRT50 of −8.0 dB and a standard deviation of 0.2 dB across the test lists. The test-specific slope (the average of the list-specific slopes) was 11.3%/dB, with a standard deviation of 0.6%/dB. For both adults and children, only one test list of 14 phrases needs to be presented to account for the training effect. For the adults, adaptive measurements of the SRT50 and SRT80 showed mean values of −7.0 ± 0.6 and −4.5 ± 1.1 dB, respectively. For children, a slight influence of age on the SRT was observed. The mean SRT50s were −5.6 ± 1.2, −5.8 ± 1.2 and −6.6 ± 1.3 dB for the children aged 5–6, 7–8 and 9–10 years, respectively. The corresponding SRT80s were −1.5 ± 2.7, −3.0 ± 1.7 and −3.7 ± 1.4 dB. High test–retest reliabilities of 1.0 and 1.1 dB for the SRT80 were obtained for the adults and children, respectively. This makes the test suitable for accurate and reliable speech-recognition measurements.