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This article investigated and compared the consistency of self and peer assessments as alternatives for teacher assessment.  Thirty sophomores majoring in TEFL were asked to assess their classmates’ as well as their own speaking ability in a conversation class. They were taught how to do this using a rating scale of speaking. They did the rating twice during the term the first rating was carried out during the 8^th and 9^th weeks and the second rating at the end of the term (weeks 15 and 16). The results of the study indicated that self and peer assessments were not significantly related at the end of the term and only loosely, though significantly, related in the middle of the term. Both self and peer assessments indicated consistency over time, however peer assessment enjoyed a higher consistency.