Little is known concerning chemistry and biochemistry majors' understanding of research and scientific inquiry. In this three-year qualitative research study, chemistry and biochemistry majors were interviewed before and after participating in a National Science Foundation-sponsored Research Experiences for Undergraduates (REU) program at a private urban research university in the Northeastern United States to learn about their conceptions of research, its purpose, and process. Participation in undergraduate research was found to inform students' understanding of the structure and practice of research, promote the resolution of several well-known misconceptions (theory vs hypothesis and proof), and understanding of research as an inherently social human endeavor. Nonetheless, evidence was also found that their understanding of some research elements, including the role of publication and the ethical and sociocultural dimensions of research, may be limited. This gap may be due to the students' limited opportunities for active engagement in these areas during the relatively short 10 week REU time frame. These findings can potentially impact the practice of undergraduate research as they relate to student researchers' epistemic development and call for further investigations into how undergraduate research informs students' understanding of research and scientific inquiry.