This study examined the effect of multiple social roles on the psychological functioning of 60 adult students (age 25 to 51 years) in an introductory graduate course in educational research. Using multiple role conflict (MRC), perceived ability to cope (PAC), subject anxiety (SA), academic self-efficacy (SE), self-regulation (SR), and course performance (CP) tests administered over the course of the semester, it found significant correlations among these variables. The study discovered that SR exerted a positive effect on CP, and that SE exerted a positive effect on SR. MRC proved to exert a significant negative effect on SE. These findings point to important issues regarding cognitive and behavioral consequences of multiple social role conflict among adult students. (Contains 11 references.) (MDM)