Introduction: Test anxiety inhibits students from performing according to their full potential in academic setting. Objectives: This study investigated self-efficacy, gender and trait anxiety as moderators of test anxiety. Method: Two hundred and forty nine (249) psychology majors drawn from a university in Eastern Nigeria participated in the study. General self-efficacy scale, Westside test anxiety scale and State-Trait Anxiety Inventory, Y-2 were used to assess self-efficacy, test anxiety and trait anxiety respectively. Data collected were analysed using regression analysis, analysis of variance (ANOVA), and Pearson correlation. Results: Results of regression analysis indicated that the model was significant. Self-efficacy contributed 14% of the variability in test anxiety, whereas trait anxiety moderated 49% of the variability in test anxiety. Gender was not a significant predictor of test anxiety. Persons with lower self-efficacy had higher test anxiety scores. Also, self-efficacy correlated negatively with test anxiety, whereas trait anxiety correlated positively with test anxiety. Conclusions: These findings have implications for developing programs to enhance performance in students who have difficulties with testing situations. (Contains 4 tables.)