In order for students’ to be successful on exams they first need to understand the amount of effort and time necessary for adequate test preparation. Students’ self-assessment of their test preparation and test performance can be a useful in comparing their stated knowledge and their actual knowledge determined from test scores. In this context, this study examines students’ self-assessment of their test performance, test preparation and earned score. For this purpose, data collected was from 106 university students in Ankara University. Prior to the exam, two self-assessment queries were made to students regarding their test preparation: (i) Did you think your test preparation was productive? (ii) Did you think your test preparation was sufficient? Following completion of the test, students were queried regarding self-assessment of their test performance. Data was analyzed using Pearson Correlation Coefficient and a significant relationship was found between students’ self-assessments of test performance and earned score. Moreover, results obtained from Chi-square Test revealed a significant relationship between students’ self-assessment of their test preparation productivity and their earned score. However, no significant relationship was determined between students’ self-assessment of their test preparation sufficiency and earned score.