The present article examined the psychometric properties of a representative summative performance review system that integrates supervisors’ feedback regarding trainee performance across multiple domains. Data were gathered from existing summative rotation evaluations from 59 predoctoral interns. The underlying factor structure of the evaluations was examined. Next, the authors explored relationships between intern ratings and postdoctoral career outcomes. Despite encompassing multiple distinct competency domains, factor analyses of the rating forms revealed 1 underlying factor. Finally, in an effort to increase variance in ratings, an expert supervisor panel retrospectively ranked all interns in a forced distribution format. The resultant factor did not significantly correlate with post-program outcomes, or retrospective supervisor ratings. Recommendations for future research in competency assessment are discussed.