To reset click the green flag, and to start a round of the test click s on your keyboard and wait for the black box to go green, and then either click or press space. Your time will be displayed in the top left corner. It won't go to more decimal places because Scratch is slow.
SOMETIMES IT GETS SLOW AND THE TIMER DOSEN'T STOP. THERE ISN'T ANYTHING WRONG WITH THE PROGRAMMING IT'S JUST HOW IT WORKS. IF IT CONTINUES TO DO THAT CLICK SEE INSIDE AND IT MIGHT GET BETTER.