Universities introduce intermediate assessment because it is understood to have positive effects on student behaviour and achievement. Yet, how intermediate assessment is perceived might be conditional for its success. The current study investigates both teachers' and students' perceptions of intermediate assessment. Teachers and students were interviewed and Student Evaluations of Teaching were examined. Results indicate that both teachers and students had generally positive perceptions of intermediate assessment. However, the two groups provided different reasons for their positive perceptions. Teachers and students agreed that intermediate assessment helps students to keep up with their study work. Moreover, teachers mentioned that they could assess various knowledge and skills with intermediate assessment, whereas students preferred intermediate assessments to test the same knowledge and skills as the final exam. This finding suggests that teachers and students in our study had different goals for intermediate assessment.