Well, if you assume the best case where you can find a perfect question every time that would reduce the the number of potential words by a factor of 2, you could identify up to 2^20 = 1,048,576 words. If we are to believe this study cited on Wikipedia - "In December 2010 a joint Harvard/Google study found the language to contain 1,022,000 words and to expand at the rate of 8,500 words per year. The findings came from a computer analysis of 5,195,769 digitised books. Others have estimated a rate of growth of 25,000 words each year.", it really seems unlikely that the hypothesis holds at this moment and we can say for sure that it will be false in a few years time.