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Outcome-based education (OBE) is a current initiative in Hong Kong universities, with widespread backing by governments and standards bodies. However, study of students' perceptions of OBE and validation of understanding these perceptions are lacking. This paper reports on the validation of an OBE-specific instrument and resulting preliminary findings. Instrument responses ("n" = 89) were analysed using Rasch and exploratory/confirmatory factor analyses. Both approaches identified two dimensions (i.e. evaluation and comparison). Challenges and modifications to the instrument items and their relationships to constructs are discussed. Preliminary findings suggest students did not perceive significant differences between OBE and traditionally organised courses. Lack of explicit discussion of OBE with the students may have denied students the ability to make fully informed evaluations of OBE innovations. Implications for instrument validation and evaluation of initiatives in an OBE context are discussed as is the broader issue of transparency in teacher education curriculum design and implementation.