In this study, I explored the functional similarities and differences in the cognitive processes involved in mathematics anxiety and test anxiety. Ninety-six students in an undergraduate psychology statistics course completed test and math anxiety measures shortly after the commencement of their course. Before and after each of their five midterm examinations, students completed questionnaires that assessed their anxiety, appraisals, internal dialogue, and performance attributions. Results indicated that both math and test anxiety accounted for unique variance in preexam appraisals, negative internal dialogue, postexam appraisals, pre-and postexam anxiety levels, and several types of performance attributions. Only test anxiety, however, accounted for variance in subjects' actual examination performances. I address the implications of a cognitive theory for math anxiety.