The purpose of the study was to explore the academic careers of students who took AP Exams and to compare their careers with those who did not take AP Exams. For most AP Exams, students with AP grades of 3 or better had higher grade averages in intermediate college courses than did non-AP students who first took an introductory course. Two appendices are included: (1) Course Sequences; and (2) Question 1 Regressions: Parameter Estimates and Their Standard Errors.