A deductive, sequential mixed design was used to better understand the internal aspects of performance-based self-evaluation activities as related to teacher preparation. A modified theory of change informed the investigation of a subset (N = 15) of teacher candidates from a larger study, who all showed significant improvements in their teaching abilities after engaging in video analysis. Teacher candidates' video analysis activities were further analyzed to better understand their self-evaluation accuracy and enthusiasm for engaging in such teacher preparation activities. Results indicated candidates rated their perceived ability significantly higher than their observed instructional ability at all four timepoints. Candidates who were most enthusiastic about engaging in video analysis with self-evaluation were the least accurate at rating their own instructional abilities. Additional findings about the association between internal factors (i.e., attitude and accuracy) and the implications for self-evaluation as a reliable form of performance-based assessment within teacher preparation are discussed.