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The Educational Testing Service officially unveiled its new TOEFL -- or Test of English as a Foreign Language. The new TOEFL -- known as TOEFL Essentials -- does not replace the old TOEFL, now known as TOEFL iBT.

TOEFL Essentials tests four key skills -- listening, reading, speaking and writing. But it is shorter (it takes about 90 minutes) and cheaper (it costs between $100 and $120, depending on the country it's taken in, about half the cost of TOEFL iBT).

ETS hopes the new TOEFL will not replace the old test, but rather that colleges will accept both tests.

The real question is whether the new test will complete with Duolingo's exam, which costs $49 and takes about an hour.

Duolingo is now generally accepted by colleges in the U.S. (and Britain and Canada), and it has gained in popularity. (Exact numbers of people taking the two tests are not released by the companies.)

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