As part of its ongoing process of formative evaluation, the Stanford Teacher Education Program (STEP) conducted a survey of four cohorts of recent graduates. The data from this survey are being used in concert with findings from other lines of inquiry to assess and improve the program. The discussion in this paper is centered on several research questions: (1) In what areas do graduates feel more and less well-prepared? Have these changed over time?; (2) Do perceptions of preparedness co-vary with the types of schools in which graduates have taught?; (3) What types of practices do graduates engage in? Are teaching practices related to sense of preparedness?; and (4) How efficacious do graduates feel? Are feelings of efficacy related to sense of preparedness? The data indicate that graduates generally feel well prepared by the program, and feel particularly well-prepared in applying pedagogical and content knowledge to practice and teaching a range of students. The authors also found that graduates' teaching practices are generally consistent with those encouraged in STEP and that graduates appear to feel efficacious in many aspects of their teaching practice. (Contains 4 tables and 12 notes.)