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The aim of this exploratory practice research was to gain a better understanding of how tertiary education English as a foreign language (EFL) learners perceive oral presentations (OPs) in the formative assessment of their speaking skills. Participants were 150 pre-service teachers of primary education from the Higher Institute of Social Sciences and Education of Gafsa (HISSEG), Tunisia. Data were collected through a questionnaire and analyzed quantitatively and qualitatively. Results revealed that participants showed a positive attitude towards oral presentation (OP) assessment, viewing it as useful in enhancing their speaking abilities and self-reflection and self-assessment skills. They also appreciated teacher feedback. In addition, they demonstrated a relatively high awareness of the purposes of OP assessment. However, participants had moderate awareness of the assessment criteria and low perception of peer feedback. Further interventions are needed to reinforce the strengths and address the inadequacies of OPs as a tool of formative assessment.