The Paced Auditory Serial Addition Test (PASAT) is associated with a myriad of constructs pertinent to cognitive and psychological functioning, including processing speed, working memory, attention/concentration, mathematical ability, and anxiety. Thus, practitioners may rely heavily on clinical judgment when interpreting PASAT performance. The present study aimed to clarify the correlates of the PASAT with a fine-grained evaluation of a novel assessment-seeking sample addressing the following research question: Which constructs are related to each of the four PASAT forms in statistical models accounting for multiple potentially explanatory variables? Stepwise multiple regression analyses revealed working memory positively related to performance on all PASAT forms, processing speed positively related to performance on PASAT-Form B three-second trial (PASAT-Form B3), and arithmetic ability positively related to performance on PASAT-Form A three-second trial (PASAT-Form A3). Surprisingly, measures of anxiety and attentional capabilities were not significantly correlated with PASAT performance. Results indicated that it is worthwhile for practitioners to closely consider working memory as the primary correlate when interpreting PASAT scores in multimodal assessments. In addition, findings can help practitioners discern which cognitive processes contribute to performance across the four PASAT forms as well as when best to use the PASAT as an assessment tool.