As they boldly explained in the annual teaching-learning process performance evaluation forum, the assessments given to them have the following limitations: They are traditional in type; they focus more on theory than practice; poor cooperative learning; no timely feedback; and above all weak connection to the world of work. Nevertheless, researchers like [1, 25] argued that educational assessments should correspond to what is expected from students in the world of work. Accordingly, therefore, this study was aimed at exploring the perceptions of teachers’ and students’ towards the practice of assessment of learning in FEBS, Bahir Dar University, Ethiopia. Though the problem is across the university, this faculty was selected since it has staffs with long-years of experiences to theories of learning, assessment and instruction