This research refers to the self-regulated learning strategies proposed by Pintrich (1999) in developing a multiple-choice Web-based assessment system, the Peer-Driven Assessment Module of the Web-based Assessment and Test Analysis system (PDA-WATA). The major purpose of PDA-WATA is to facilitate learner use of self-regulatory learning behaviors to perform self-regulated learning and in turn improve e-Learning effectiveness. PDA-WATA includes five main strategies: "Adding Answer Notes," "Stating Confidence," "Reading Peer Answer Notes," "Recommending Peer Answer Notes" and "Querying Peers' Recommendation on Personal Answer Notes". Using these strategies, examinees are allowed to add answer notes to explain why they chose a certain option as the correct answer and state their confidence in their own answer and answer notes, for peers' reference. In addition to reading peer answer notes, examinees can also recommend peer answer notes as valuable references. The recommendation information can also be queried by all examinees. Quasi-experimental design was adopted to understand the effectiveness of PDA-WATA in facilitating learner use of self-regulatory learning behaviors to perform self-regulated learning and in improving learner e-Learning effectiveness. Participants were 123 seventh-grade junior high school students from four classes. These four classes were randomly divided into the PDA-WATA group (n=63) and the N-WBT group (n=60). Before e-Learning instruction, all students took the pre-test of the Learning Process Inventory (LPI), used to understand how often learners use self-regulatory learning behaviors in the learning process, and the pre-test of the summative assessment. After a two-week e-Learning instruction, the students all took the post-test of the LPI and the summative assessment. Results indicate that students in the PDA-WATA group appear to be more willing to take the Web-based formative assessment than students in the N-WBT group. In addition, PDA-WATA appears to be significantly more effective than N-WBT in facilitating learner use of self-regulatory learning behaviors to perform self-regulated learning and in improving their e-Learning effectiveness. Moreover, this research also finds that in the PDA-WATA group, there is no significant difference between the learning effectiveness of students with a low level of self-regulated learning and students with a high level of self-regulated learning, but similar result cannot be found in the N-WBT group. (Contains 5 tables and 3 figures.)