Psychology Licensure examination is new in the field of Psychology. This was the reason why the researchers wanted to find out the level of emotions and preparations of Psychology students among the Universities in Davao City towards the said examination. This study aimed to determine the level of students’ emotions, and the level of students’ preparation towards the examination. It also sought to find if there is a significant relationship between the level of emotions and preparation and if there is a significant difference between students’ emotional preparedness in terms of financial support and emotional support. The descriptive survey method was used in this study. The data was collected with the use of researcher-made questionnaires that were validated by Psychology professors and subjected to reliability testing. The results showed that the level of emotions of the students was positively very high that made them feel that they were prepared for the upcoming licensure exam. There is also a significant relationship between the level of emotions and preparations of the students towards the exam. Financial support has no significant effect on their preparation for the exam while social support has an impact on their preparation.