A study investigated the appropriateness of admissions standards used for transfer students to the University of Missouri-Columbia, by analyzing the relationship between several possible predictor variables (number of transfer credits, transfer grade point average, type of previous institution, type of associate degree earned) and targeted outcomes (academic persistence and graduation rates). Data on 10,312 degree-track transfer students between fall 1983 and 1991 were compared with those on 14,351 students initially enrolled at the university in fall 1983 and/or fall 1987. Results indicated: (1) a disparity in persistence and graduation rates of native and transfer students, implying that admissions standards for transfer students should be strengthened: (2) that target persistence and graduation rates for transfers should not be based on those for comparable native students; (3) that a 1-year persistence rate of 70% and a 6-year graduation rate of 60% are appropriate for transfers; and (4) that number of transfer credits and transfer grade point average are suitable predictor variables for admission. Further analysis was undertaken to establish specific admission criteria and policy. (MSE)