While standard neuropsychological measures have been found to have adequate predictive value, their ecological validity may diminish predictions about real world functioning. Virtual environments (VEs) are increasingly recognized as ecologically valid tools for neuropsychological assessment. We aim to develop a VE-based neuropsychological battery delivered within the context of a virtual city: Virtual Reality Cognitive Performance Assessment Test (VRCPAT). The 15 minute VRCPAT battery and 1.5 hour in-person neuropsychological assessment were conducted with a sample of 40 healthy adults, between the ages of 21 and 36, that included equivalent distributions of men and women from ethnically diverse populations. No subjects had history of psychiatric or neurologic conditions. Results supported both convergent and discriminant validity. The VRCPAT was found to correlate significantly with traditional neuropsychological tests assessing similar target constructs. No significant correlations existed between VRCPAT measures and non-target constructs. Findings suggest that the VRCPAT measures a capacity consistent with that of traditional neurocognitive measures; and is inconsistent with potential confounds. We conclude that the VRCPAT provides a unique opportunity to reliably and efficiently study neurocognitive function within an ecologically valid environment.