In the opinion of many authors, assessment is a fundamental tool for teachers to achieve their purposes in the Teaching-Learning process, since it allows them to verify the progress of the process. In addition, evaluation allows teachers to establish a link with the fundamental actor of the educational process: 'The Student'. The objectives of the study are: a-to analyze students' perception of the competencies acquired and whether it varies with the application of a formative and shared evaluation system in a physical education teacher training course (FIPEF) in a Chilean public university. b-to gain knowledge on the assessment of student body with such evaluation system. To do that, questionnaires were applied before and after using a system of formative and shared assessment (F&SA) in one subject of the Physical Education Teacher Education (PETE) program at a Chilean public university. The study was carried out using a pre-post design with all the students enrolled in the course, a sample of 25 individuals (Age 23 +/- 1.9). The main results show a positive appreciation of the F&SA system, with very high means in the items that refer to the 'advantages' of the system, while most of the possible 'disadvantages' show low or very low ratings; only some of these characteristics (continuous assistance, prior understanding, continuity of the evaluation system, effort required, work that can be accumulated at the end, and disproportion of work / credits) are experienced as possible disadvantages by some students. In addition, the F&SA system seems to positively influence the perception of improvement in the competences 'Transversal'; 'general teachers' and 'specific physical education teachersyy