Perfectionism research has progressively supported an identification of two related dimensions, referred to as perfectionistic strivings (PS) and perfectionistic concerns (PC). Examinations of learner experiences based on these two dimensions have routinely demonstrated differential influence on academic emotions and performances, examining the constructs from either dimensional or typological approaches. The aim of this study was to determine the relationships among each dimension of perfectionism with cognitive test anxiety (CTA), self-regulated learning strategies (SRL), and learners' threat appraisals related to forthcoming tests (Perceived Test Threat or PTT). Structural equation modeling revealed that (a) CTA partially mediated the relationship between PC and PTT and (b) SRL fully mediated the inverse relationship between PS and PTT. Furthermore, generalized additive model (GAM) confirmed a positive linear relationship between PC and PTT, but revealed the relationship between PS and PTT was curvilinear. The results indicate that moderate levels of PS support more positive appraisals of academic outcomes by activating self-regulated learning tendencies. Conversely, as learners' levels of PC increased, so did their activation of test anxiety and a subsequent appraisal of tests as threatening events.