I'm looking for some small programming projects that I can give potential employees to gauge their programming abilities. These will be programmers straight out of college. I'm looking for projects that would take someone a couple of hours and they would email back their answers post-interview.

One example would be to take this paragraph of text and return a list of alphabetized unique words. After each word tell me how many times the word appeared and in what sentance(s) the word appreared in.

Anyone have any good suggestions?