Executive function (EF) consists of higher level cognitive processes including working memory, cognitive flexibility, and inhibition which together enable goal-directed behaviors. Many neurological disorders are associated with EF dysfunctions which can lead to suboptimal behavior. To assess the roles of these processes, we introduce a novel behavioral task and modeling approach. The gamble-like task, with sub-tasks targeting different EF capabilities, allows for quantitative assessment of the main components of EF. We demonstrate that human participants exhibit dissociable variability in the component processes of EF. These results will allow us to map behavioral outcomes to EEG recordings in future work in order to map brain networks associated with EF deficits. Clinical relevance- This work will allow us to quantify EF deficits and corresponding brain activity in patient populations in future work.