College faculty (n=171) from 16 Arkansas colleges were asked to make validity and cut score judgments about the test items for the 1982 Arkansas National Teacher Examination (NTE) study of 23 area examinations. Each of the 23 data collection panels began with a training session which included specific directions for the estimates of the judges. Results indicate that (1) the closer the test-curriculum match, the greater is the likelihood that the test has more valid items, (2) the more items not valid on a test, the higher would be the percent of those who would score lower than the minimally competent examinee, (3) the greater the match between items and curriculum content, the higher the derived cut-scores, (4) the lower the expected failure rate, the higher the derived cut-score, and (5) the greater the match between test items and curriculum content, the lower the expected failure rate. (PN)