Testing is essential in education and other behavioural science fields because many decisions and policies are made according to the results of testing. It is therefore, imperative that besides ensuring that the test items are valid and reliable, the scoring of the items must be reliably and validly conducted. It has been established by chief examiners of examining bodies that students most times obtained low scores in the constructed-response items aspect of mathematics and this could be as a result of the assessment procedures adopted by the examination bodies. Also, many research works have been carried out to confirm the similarity between West African Examinations Council (WAEC) and National Examinations Council (NECO) in Nigeria using multiple choice items. Against this backdrop, this study assessed the ability of senior secondary students in constructed-response mathematics tests of WAEC and NECO with test theories models and as well established the similarity between the two examinations. Non-experimental design of ex post facto type was adopted. The target population consists of all senior secondary school students in Ibadan Metropolis of Oyo State in Nigeria. Simple random sampling was used to randomly sample 24 schools and 1151 students. The compulsory section A of Paper II of three years past constructed-response items of WAEC and NECO were used as instruments for data collection. Data collected were analysed using mean, standard deviation, Person Product Correlation Movement; Classical Test Theory, generalized partial credit and graded response models of Item Response Theory. Results of the finding shows that students mean score in the examinations were below 50% using CTT and above 50% using IRT models respectively. It was concluded that the two examinations mathematics constructed-response items are equal and IRT models are more efficient and reliable in determining students' ability compare to CTT.