This article reports on an in-depth study of assessment across one university, exploring views and practices in each of the five faculties. The authors conducted semi-structured interviews with eight staff and small group interviews with 60 students. The data indicate that: there is very little common understanding of the terms often used to describe forms of assessment in policy documents and other literature; and students, contrary to popular belief, do value assessment that carries no marks, although a form of ‘deferred instrumentalism’ may be at work here. The article concludes by suggesting frameworks and terminology for future discussion and issues for staff development.