The first of three self-contained studies in this report characterizes those who chose to take the California High School Proficiency Examination and those who passed. Characteristics of examinees' families, schools, and communities were also identified. In the second report, a school financial simulation model calculated district revenues which in California are linked to attendance: loss of students who passed the test and left school early would reduce revenues. Financial impact was low. Its effect on community college attendance was also examined and judged as small but measurable. Finally, juniors, seniors, and counselors were surveyed about knowledge of and participation in the four statewide options for early or partial exit from high school. These are: the proficiency examination, work experience for credit, early graduation, and concurrent enrollment in college courses. These three studies were prompted by an unexpectedly low participation rate (5%) and passing rate (less than half), during the first four years (1975-1979) of this statewide equivalency exam. (CP)