It is well known that the use of emotional regulation strategies can reduce negative emotional experiences including anxiety. However, does the use of such strategies while taking an exam result in reducing test anxiety? To answer this question a cluster sample of 350 university students was selected and then tested on the use of emotional regulation strategies and test anxiety. Results show that the agency strategy is negatively correlated with anxiety, as are the efficiency, stress reduction, and re-evaluation strategies, while the correlations between wishful thinking and self-blaming strategies and anxiety are positive. From among the 8 strategies identified, the self-blame, wishful thinking, and efficiency in problem evaluation were the strongest predictors for general anxiety and test anxiety. Thus, teachers can take steps in helping their students learn and use appropriate strategies in order to overcome test anxiety.