Assurance of learning is the key to students’ academic success. To this end, one of the largest historically Black colleges and universities (HBCUs) in the United States administers the Educational Testing Service Major Field Test for Business (ETS MFT-B) to assess student learning of business concepts. This study used a set of predictor variables to explain the ETS MFT-B performance at the subject HBCU. The results of the study are expected to close the gap between student performance and expected outcomes in the subject institution, as well as contribute to the broader issue of improving curriculum and teaching effectiveness in business schools in the United States. Using data from fall 2012 to fall 2018, the findings of the regressions indicated that new variables, namely, English language proficiency, hours attempted to hours earned, first-generation student status, and desire to pursue higher studies were important predictors of the ETS MFT-B total score and sub-scores. Among the traditional variables, the cumulative GPA and student’s major area were important predictors. These findings point toward several corrective actions in the assurance-of-learning process for the subject school. The subject school can add a business English class to the curriculum, improve teaching effectiveness, provide advising assistance when students retake classes, and adopt measures that will motivate students to prepare for the ETS MFT-B.