The student is absolutely correct. I don't think it's even open for debate. Cutting anything in half requires exactly one cut; cutting in thirds requires two. It's as simple as that. The teacher that crafted the question, or worse yet, the publisher of a textbook that may have provided the test question, needs to take a hard look at whether or not they are in the correct profession. The fact that the teacher not only…
It is ABSOLUTELY open for debate, and part of the clue is in the question "if she works just as fast" ie. the cutting rate is constant. Then, it is ambiguous since the SIZE of the pieces is not mentioned. It's not the teacher's fault, per se; the question is unanswerable. The student picked one interpretation but the (likely) correct one is shown in the answer http://math.stackexchange.com/a/380007
(Not saying I like it, but it's the way it is many places.)