Several practitioners and researchers consider interactivity as the essential mechanism for effective and successful self-regulated learning within web-based learning environments. Even so, there are few studies that address the question of how students deal with the interactivity provided and how this may be related to their achievement. To investigate this question, students' performance and acceptance while learning with the web-based learning environment, "Studierplatz," as well as their postlearning achievement were measured in a university field study. These measures were correlated with measures of learning activities. Results show that only some students used the provided interactivity functions seriously. Nonetheless, the use of such functions was related to better achievement. Implications of these results will be discussed with regard to the restrictions and benefits of applying self-regulated multimedia learning at the university level.