Most continuing education program evaluations are developed informally with little attention paid to psychometric properties. Rigorous evaluation of continuing education programs should measure quality and allow valid comparisons across programs. The Program Evaluation Instrument (PEI), which evaluates continuing education programs, was tested in this study to further evaluate its psychometric properties. The 19-item instrument consists of four theoretical subscales: program objectives, learner objectives, teacher behavior, and program satisfaction. Participants (N = 566) completed the instrument after a variety of hospital continuing education programs. Principal components factor analysis with Varimax rotation revealed two interpretable factors, Preparation and Presentation, and Usefulness. Coefficient alphas for the two factors were .94 and .70 respectively. The findings suggest item revision and further psychometric evaluation.