Background: Research on the test-taker perception of assessments has been conducted under the assumption that negative test-taker perception may influence test performance by decreasing test-taking motivation. This assumption, however, has not been verified in the field of language testing. Building on expectancy-value theory, this study explored the relationships between test-taker perception, test-taking motivation, and test performance in the context of a computer-delivered speaking test. Methods: Sixty-four Japanese university students took the TOEIC Speaking test and completed a questionnaire that included statements about their test perception, test-taking motivation, and self-perceived test performance. Five students participated in follow-up interviews. Results: Questionnaire results showed that students regarded the TOEIC Speaking test positively in terms of test validity but showed reservations about computer delivery, and that they felt sufficiently motivated during the test. Interview results revealed various reasons for their reservations about computer delivery and factors that distracted them during the test. According to correlation analysis, the effects of test-taker perception and test-taking motivation seemed to be minimal on test performance, and participants' perception of computer delivery was directly related to test-taking effort, but their perception of test validity seemed to be related to test-taking effort only indirectly through the mediation of perceived test importance. Conclusion: Our findings not only provide empirical evidence for the relationship between test-taker perception and test performance but also highlight the importance of considering test-taker reactions in developing tests.