The report includes all the individuals who submitted CLEP scores and were enrolled at the university in 1973. Data indicated: (1) Fewer students took and earned credit through CLEP in 1973 (470) than in 1972 (616). (2) The academic caliber of a majority of the students who are writing CLEP appears to indicate that they have a realistic awareness of their academic strengths. (3) Both indexes, CLEP and ACT, adequately discriminate among the academic strengths of students. (4) Conspicuously fewer students earned credit through CLEP in fine arts and literature, philosophy, and religion than in the other subject areas. (5) There is a reasonably high positive relationship among the students in reference to the total number of semester hours earned through CLEP, the mean cumulative GPA, and the mean ACT standard scope. (6) There was a substantial difference in the mean cumulative grade-point average of students who earned credit through CLEP (2.77) and those who wrote CLEP but received no credit (2.10). (7) The grade distributions by subjects indicate that CLEP credit recipients did extremely well in courses related to the courses which they had earned through CLEP. (Author/MJM)