We report findings of an exploratory validation study of a revised instrument: the Student Risk Screening Scale-Internalizing and Externalizing (SRSS-IE). The SRSS-IE was modified to include seven additional items reflecting characteristics of internalizing behaviors, with proposed items generated from the current literature base, review of current measures, and teaching experience with students with emotional and behavioral disorders. The original seven items developed by Drummond (1994) were retained in the exact form, yielding an instrument containing 14 items (SRSS-IE14), each rated on a 4-point Likert-type scale. First, we explore the reliability of the SRSS-IE14 by examining item-level data, internal consistency, and factor structure with 2,460 elementary students. Results of a data analytic plan grounded in classical test theory support retention of five additional items, yielding the SRSS-IE12. Second, we established convergent validity of the SRSS-IE12 with two well-established screening tools: the Strengths and Difficulties Questionnaire (Goodman, 1997) and the Systematic Screening for Behavior Disorders (Walker & Severson, 1992). Limitations and future directions are offered. (Contains 9 tables and 1 figure.)