Several reasons have been offered for the depressed values of coefficients of correlation between performance evaluation scores and test scores for tests that otherwise seem to have high validity. Most of these studies have concerned themselves with only the first year performance measure. This study was undertaken to broad base the validity design by including performance measures of 3 subsequent years. Data were collected on the test and performance scores of executives from three organizations. The results indicate that though test scores may not show significant relationship with the first year performance appraisal score, they do show positive and significant relationship with 2nd and/or 3rd year performance appraisal scores. The rationales of the results are discussed. Analysis of the test and performance appraisal scores of these who left organizations at various stages have also been carried out to examine the rationale.