This article discuss the algebra teaching knowledge of preservice elementary mathematics teachers in the context of CK and PCK as well as the relationship between them. The study was conducted with 101 preservice teachers sampled from a state university in Turkey. Rasch analysis was used to interpret the data. The results revealed that preservice teachers performed at mid-level for both CK and PCK tests. It was also found that there was a significant correlation between the CK and PCK test scores. Weaknesses of the preservice teachers in terms of knowledge of the learner component of PCK, in comparison with presentation of content, were identified.