The present investigation explores Cognitive Test Anxiety (CTA) in a high-stake oral examination, taking into consideration how face-to-face and computer-based examination formats affect test-takers' anxiety and consequently language performance. Two speaking tests -- face-to-face and computer-based -- were developed for a Spanish university's ACLES B1 accreditation exam taken by 176 candidates. The Cognitive Test Anxiety Scale Revised (CTAS-2) and a structured interview were used to measure students' anxiety as well as to observe students' perceptions, individual behaviour, and how contextual characteristics and emotions have an effect on language test anxiety. Results indicated a moderate to high cognitive test anxiety on the part of participants and differences between the two contexts were found. Factors such as the absence of an examiner or not feeling observed or judged during the speaking test performance were found to be aspects that lowered test-takers' anxiety levels.