The passage of "No Child Left Behind" (NCLB) legislation has led to an increased awareness of testing and assessment in public school systems and its impact. A cursory review of the academic literature and national news sources on the impact of standardized testing revealed a plethora of anecdotal cases of students experiencing illness, anxiety, and heightened levels of stress all attributed to the administration of these examinations. Furthermore, numerous studies have surveyed teachers regarding the impact of standardized tests, producing similar overviews that low performance on these examinations is correlated with increased levels of anxiety and stress. An element glaring by its omission is a formal study that surveys all stakeholders surrounding public school systems, including students, parents, teachers, principals, and counselors to gain a comprehensive understanding of the perceptions of standardized testing. Furthermore, a unique aspect of this study is the linking of student, parent, and teacher responses directly to student performance on a criterion-referenced state examination and a national norm-referenced examination. The results from these studies suggest that most of the "dangers" of standardized testing are overstated and misrepresented and that most students, parents, principals, and counselors value these tests and do not report increased levels of stress or anxiety. However, teachers as a group do present strong misgivings about standardized testing.