Academic Risk-Taking (ART) is a type of student behavioral engagement characterized by uncertainty regarding the outcome. Students for example share their ideas on difficult topics during class. When taking academic risks, students are confronted with the possibility of being perceived as less competent by others. Students and instructors ascribe a beneficial effect to ART, and ART may foster academic achievement by promoting deep learning. Still, research shows that students avoid taking academic risks. This phenomenon is largely unexplained and there is only little research on ART in the context of higher education. This may be due to a lack of short survey instruments. This study addresses this issue by proposing an extensive self-report measure to evaluate students’ general (G-ART) as well as seminar-specific ART (S-ART). First results indicate that two dimensions of ART, seminar group and peer context, may be differentiated. The third dimension of instructor context shows low consistency and needs to be revised. Possible applications of the scale include closer exploration of the nature of the construct ART regarding stability over time and different contexts. The instrument enables analyzing possible social and gender disparities as well as the relationship between seminar characteristics, ART, and academic achievement.