The present study investigates the impact of participation in a peer assessment activity on subsequent academic performance. Students in two sections of an introductory psychology course completed a practice quiz 1 week prior to each of three course exams. Students in the experimental group participated in a five-step double-blind peer assessment activity immediately following the practice quiz, whereas those in the control group participated in the identical activity 1 week after the exam. Results show that participation in the peer assessment activity enhanced subsequent exam performance in all three cases, even after accounting for online mastery quiz performance and attendance. A detailed description of the peer assessment activity is provided as a flexible template for instructors.