Previous research has stressed the role of both expectancies and reinforcement in the decision making process. In order to determine if the measure of externality and internality correlates with an association between willingness to risk and external/internal locus of control, and to determine the role of social learning in students internal/external characteristics, educational psychology students (N=42), aged 24-40, completed the Adult Nowicki-Strickland Internal External (I/E) Scale and the Wesley Willingness to Risk Questionnaire (WRQ). Analyses of results showed that both male and female facilitators (defined as students who tended to answer no to external items) had significantly higher total I/E and WRQ scores, i.e., were more internal than their inhibitor counterparts, (students who answered no to most risk questionnaire items). The results suggest that academic performance might be enhanced by arranging situational factors in a way that the student will view his success or failure as contingent upon his own behavior. The two scales are appended. (WAS)