We administered the MMPI and the Inventory of Childhood Memories and Imagining (ICMI) to 1,200 college students. Application of diagnostic efficiency statistics for the ability of differing ICMI cutoff scores to identify college students producing a schizophrenia spectrum MMPI code type revealed that scores greater than or equal to 29 on the ICMI had good positive predictive power. Scores less than 29 on the ICMI had very good negative predictive power. ICMI scores were also used to form a group of fantasizers (n = 30) and a control group (n = 30). Fantasizers were much more likely to produce MMPI codes associated with a vulnerability to schizophrenia (70%) than were controls (3.33%). Although most controls(70%) produced non-elevated MMPI scores, 66.67% of the fantasizers produced three or more elevated clinical scales on the MMPI. The modal MMPI profile for the fantasizers was an 8-9 code, indicating that fantasizers appear at heightened risk for eccentric thinking and a Cluster A or B personality organization.