In order to determine the extent to which Pass/Fail grading affects the learning process by altering student motivation, the author studied the grades of 61 Pass/Fail and 61 traditionally graded students who had enrolled in the "Introduction to Africa" course at York College (Pennsylvania) during the three semesters of 1973-74. All students had the same instructor, and all students were assigned traditional grades according to the same criteria; only the student and the Records Office knew of the student's choice of Pass/Fail or traditional grading. Results of comparing the grades of all 61 Pass/Fail students against those of all 61 traditionally graded students indicated no significant difference between the two groups. However, when the variables of sex, intelligence (IQ), academic achievement (GPA), class status, course load, and college major (stratified random sample) were controlled, the course grade means were significantly different at the .05 level of confidence, suggesting that students who elect to take a course Pass/Fail may not be as motivated to learn as those who choose to be graded conventionally. A literature review and a bibliography are included. (DC)