Misconceptions are beliefs that are not in accordance with the basic concepts of science and the results obtained by scientific research. People are often very sure of the accuracy of such erroneous beliefs, although in most cases they do not have adequate education in this area. The aim of this research was to examine the ability to recognize wrong conceptions in psychology with regard to the year of study, field of study, paranormal beliefs and overconfidence in the accuracy of answers. The research was conducted at the Faculty of Humanities and Social Sciences in Rijeka, and 205 respondents participated in the research (176 female and 28 male), of which 76 were first-year undergraduate students (41 psychology and 35 other majors) and 129 graduate students (75 psychology and 54 other majors). A significant negative correlation of the ability to recognize misconception in psychology with paranormal beliefs was obtained. A positive association of paranormal beliefs with the level of overconfidence in the accuracy of answers to the misconception test was also obtained. The main effect of year and type of study on the ability to recognize wrong concepts and the interaction of year and field of study were also obtained. Psychology graduate students are better in recognizing misconceptions and have lower level of overconfidence than first-year undergraduate psychology students and graduate and undergraduate students of other fields.