Computer-based testing (CBT) is typically implemented using one of three general test delivery models: (1) multiple fixed testing (MFT); (2) computer-adaptive testing (CAT); or (3) multistage testing (MSTs). This article reviews some of the real cost drivers associated with CBT implementation--focusing on item production costs, the costs associated with administering the tests, and system development costs--and elaborates three classes of cost-benefit-related factors useful for evaluating CBT models: (1) real measurement efficiency; (2) testing system performance; and (3) provision for data quality control/assurance. (Contains 1 figure and 2 footnotes.)