From what i understand of your question, this is how i would do it:
Add a timer, and 2 buttons to the form
On form load, you want to set the interval on the timer, so something like this:
Timer1.Interval = 1000 'Set the interval to 1 second
Then when you click on the first button show the second button, so on button1 click:
Button2.show() 'Show the second button
Timer1.Start() 'Start the timer, so they have 1 second from now
And in button 2 click, you want to do your event, add a point etc:
points += 1
Then to make the second button dissapear, (timeout) after a certian amount of time, you change the interval of the timer1. If the button wants to show for 1 second, set the interval to 1000 (milliseconds)
Then in timer1.tick add this code:
timer1.Stop() 'Stop the timer so that its not ran again and again
Button2.Hide() 'Hide the second button
MsgBox("You was too slow!!") 'Tell the user they missed it, or your code..