ObjectiveThe purpose of this study was to determine student perceptions versus actual level of test anxiety, as measured by the Cognitive Test Anxiety Scale-2 (CTAS-2), and student and faculty perceptions of test anxiety with regard to prevalence, impact, ease of treatment, and importance in pharmacy education. MethodsTwo independent Qualtrics questionnaires were distributed via email to all students and faculty in the professional pharmacy program (years 1–4) at the University of Mississippi. The first questionnaire evaluated pharmacy students’ perceptions of test anxiety and self-awareness of personal test anxiety. The second questionnaire evaluated faculty members’ perceptions of student test anxiety. The questionnaires had 50 and 21 questions, respectively, and were developed from validated, reliable questionnaires used in Cognitive Test Anxiety (CTA) research. ResultsQuestionnaires were completed by 123 students and 19 faculty. Overall, 46 % of students had a self-perception of “high test anxiety”, with 28 % having a CTAS-2 score that correlated to severe test anxiety. A majority of faculty respondents (84 %) believed severe test anxiety affects 30 % or less of pharmacy students and may be associated with poor academic performance. ConclusionStudent pharmacists’ self-perception of test anxiety and perception of difficulty mitigating test anxiety may be overestimated. Overall, faculty accurately estimated the degree of test anxiety, felt confident in being able to help students, and believed it should receive attention from both faculty and the university.