There is a dearth of research involving advanced second language (L2) learners in the USA [Brantmeier, C., 2001. Second language reading research on passage content and gender: challenges for the intermediate level curriculum, Foreign Language Annals 34, 325-333; Young, D.J., 2003. Workshop on overcoming anxiety in the foreign language classroom. Language Learning Series, Washington University in St. Louis]. At some universities in the USA many freshmen test directly into the advanced levels of Spanish language instruction where the goal is to prepare students for the reading of lengthy, authentic texts. With 71 advanced L2 learners of Spanish, the current research project attempts to determine the reliability of self-assessment, as determined by a questionnaire previously utilized for placement [Birckbichler, D., Corl, K., Deville, C., 1993. The dynamics of language program testing: implications for articulation and program revision. The Dynamics of Language Program Direction. Heinle and Heinle, Boston, MA; Deville, M., Deville, C., 1999. Computer-adaptive testing in second language contexts. Annual Review of Applied Linguistics 19, 273-299], to predict reading performance via computer-based testing (CBT) and subsequent reading achievement. All incoming freshmen completed self-assessment questions about L2 reading abilities before completing an online placement exam (OPLE). In order to assess subsequent reading performance, all students who tested into Advanced Spanish Grammar and Composition participated in an investigation during regular class time during the 3rd week of class. Participants read a short story, completed three different comprehension assessment tasks and additional self-assessment items. Overall, results of the present study suggest that self-assessment of L2 reading ability, as measured before and after reading via a 5-point scale, is not an accurate predictor variable for placement or subsequent performance. Advanced learners did not accurately estimate their L2 reading abilities as measured via CBT and in-class performance. Findings do not offer conclusive evidence about the value of self-assessment as a predictor of performance on CBT or as an indicator of subsequent classroom performance, but the current investigation provides indications as to the direction in which research on self-assessment of L2 reading needs to move. A more contextualized, criterion-referenced self-assessment instrument may be more beneficial for the placement of advanced readers in the USA. These results both echo and contradict prior research, which calls attention to the need for more investigations concerning instrumentation of self-assessment as a factor to be used in placement decisions for advanced learners. (Contains 2 tables and 5 figures.)