A lot of clearance test prints are designed for fitting 3D printed parts into other 3D printed parts.  But this one is meant for fitting metal hardware (pins, bolts, and the like) into a print.  I use those little brass threaded inserts a lot, but always had to guess and check a bit to find the right size of hole for them, since it is best to have some interference to ensure adequate contact between the insert and the plastic and each printer/nozzle/extruder can have a slight effect on the spillover of layer lines. I made this model to help me know the appropriate hole size for M4 and M3 inserts. However, there's no reason it wouldn't work for US customary inserts of similar size.  

Hole sizes are marked on the side of the model every third hole, from 0.27" to 0.15" , stepping down by 0.01" each hole. It is probably best to print one of these with the holes up and the other with the text up to ensure that inserts will fit a diameter in either orientation.

Support: None
Walls, top/Bottom Layers: 4, 5/5
Infill: 10% Lighting but doesn't really matter
Wall thickness: 0.4-0.5mm
Material: 9g