Adolescence is by definition an "age of risk", irrelevant if you substantiate such a claim experientially or empirically. Mid-adolescence is the period where the processes of both neural and socio-emotional maturation are linked with an increase in both exploratory and health-risk behaviors. The present study, using a cross-sectional approach, investigates aspects of intra and interpersonal processes in relationship to risk behaviors and risk perceptions, and tries to link these constructs to student engagement. The study-sample consisted of 107 9th to 12th graders from three Romanian counties. The measures used were self-reports, appraising intrapersonal configurations (Beck Self-Concept Test), interpersonal problems (Inventory of Interpersonal Problems), and social and school adjustment (Social Adjustment Scale-Self Report). Risk behaviors and perception were measured with the Adolescent Exploratory and Risk Behavior Rating Scale (AERRS). The main research finding was that student engagement with school is in direct relationship with a better self-concept, more exploratory risk behaviors and a more adequate social adjustment. A puzzling result, explained probably better by the dual-process theory of behavior, is the relationship of risk perception to self-concept and interpersonal problems (id est -- a greater risk perception is correlated with a more fragile self-concept and more interpersonal problems).