Q: If I fail a test that has costs other than actions associated with it (like spending ammo or charges), do I need to respend costs to 'attempt that test again'? My read is no: it's not a new action, it's just 'go straight back into the skill test', without spending costs. Is that correct? A: Correct. The investigator does not need to pay any costs associated with the skill test again (such as ammo, actions spent, etc), although anything spent to improve the previous test (like committed costs or resources on a Talent) are indeed lost at the end of the first test.
Q: Does a skill test end at the same time as the action spent to trigger it, if it is, for instance, an Investigate test or Fight test? Do end of skill test and end of action effects trigger at the same time? A: Correct, an action that is a skill test (such as Investigate or Fight) ends at the same time that the skill test ends, so both such effects would trigger at the same time.
Fast. Play after a skill test you failed ends (after resolving all effects from the failed test).
Attempt that test again. You get +2 skill value for this test.
What a great card! Lucky! is a great card and this card will not change that, but it's so nice to have a card that fills a similar role to Lucky! while at the same time not being the same and still having its own space. I'm currently playing an Ashcan Desperate/Dark Horse/Yaotl deck and I'm taking out my Lucky!s because they cost one resource and have no icons in a deck that discourages having resources and encourages having cards with icons in the discard pile. They synergized badly with the deck. This card (while not necessarily getting along with Yaotl) is a great replacement in that deck.
In general, it's very well balanced with Lucky!. While Lucky! gives you a chance to pass a test when you would have failed after you've seen the token, Live and Learn lets you weasel out of an auto fail or other really bad draw. Lucky! costs a resource, while Live and Learn still resolves side effects of a bad test and does not guarantee success (or further side effects of another failed test). But it's free!
I'm happy to see the designers make a card like this, and I've enjoyed playing with it.
This is an extraordinarily good card. It definitely ranks in the top 3 for the Forgotten Age cycle, if not being the very best level 0 card in the cycle. It is good for 3 simple reasons:
A: It plays somewhat similarly to Lucky! in that it lets you play fast and loose with your card and resource commitment to tests. Say for example you can beat a -3 with minimal effort (Agnes Baker Rite of Seeking investigating a Shroud 2 location for example) but there's a -5 in the bag, Live and Learn will help you beat that check with assurity.
B: It protects against tokens. Giving you a retry on that test.
C: It recovers lost time and resources! Namely the action spent to attempt that test and whatever charges, ammo, secrets, supplies, whatever you used on the original test. (In the example above, lets say Agnes Baker drew a -5, with Live and Learn she can try that test again, without spending an extra Rite of Seeking charge,a and the +2 from Live and Learn will cover against another -5).
EDIT: Verdicts been in for a while now, Live and Learn does not recoup committed cards or resources to a test but it WILL recoup initiation costs, I.E if your action cost some kind of ammo/charge or was triggered by a card effect you get another shot with the spent effect, but if you attempt a test in some way, and play stuff into the initiated test (skill cards, resource boosting), all of that goes bye-bye. This means that if you try risky tests and rely on Live and Learn, try saving the boosts for the second attempt to maximize your success probability. This knocks the card down a peg for me but I still LOVE it, especially if i'm lugging a gun or bow around.