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.