Moderational and mediational models of the relationships among appraisals, interparental conflict, and children's adjustment were tested in a sample of 174 families with a school-age child. Parents rated children's exposure to interparental conflict and internalizing, externalizing, and total behavior problems. Children completed questionnaires regarding their appraisals of their parents' conflicts, including frequency and intensity, perceived threat, control, and self-blame, as well as measures of anxiety and depression. Results overall demonstrated more consistent support for the moderational than mediational hypotheses. Appraisals of conflict properties, threat, self-blame, and perceived control moderated the effects of interparental conflict on externalizing, total problems, and anxiety in boys. Conflict properties, threat, self-blame, perceived control, and self-calming acted as moderators of internalizing in girls.