It is a game in which there are many moves and out of that you choose one best move. Like that, in your life chess also helps to improve your ability to make the best decisions."
The general perception is that if you play chess it will help with your studies, especially in logical reasoning, mathematics, physics, and there are surveys which prove that chess players are better mathematicians. As far as ability goes, it's a good measure for intelligence. In a game of chess, there is no clear loser when it comes to learning the game.