The speech perception ability of people with hearing loss can be efficiently measured using phonemic-level scoring. We aimed to develop linguistic stimuli suitable for a closed-set phonemic discrimination test in the Swedish language called the Situated Phoneme (SiP) test. The SiP test stimuli that we developed consisted of real monosyllabic words with minimal phonemic contrast, realised by phonetically similar phones. The lexical and sublexical factors of word frequency, phonological neighbourhood density, phonotactic probability, and orthographic transparency were similar between all contrasting words. Each test word was recorded five times by two different speakers, including one male and one female. The accuracy of the test-word recordings was evaluated by 28 normal-hearing subjects in a listening experiment with a silent background using a closed-set design. With a few exceptions, all test words could be correctly discriminated. We discuss the results in terms of content- and construct-validity implications for the Swedish SiP test.