In 1996 the Council of Chief State School Officers proposed and adopted via the Interstate School Leaders Licensure Consortium (ISLLC), six overarching leadership standards for both building and district level administrators, which were then revised in 2008 (CCSSO, 2008). These standards have influenced the licensing and certification process in a majority of states' administrative codes since their inception (Derrington & Sharratt, 2008). Consequently most, if not all university principals preparation programs in the U.S. focus their curriculum on these six standards (Davis & Hensley, 1999; Waters & Kingston, 2005; Crow, 2006) even though there is a lack of experiential evidence to support this practice (English, 2005; English, 2006; Lindle, Stalion & Young 2004). The purpose of this study was to explore the ISLLC Standards' "functions" from the perspective of New Jersey school building principals to determine what they consider to be the most and least important skills and knowledge a principal must possess in order to promote school efficacy and be a successful building leader. A 66-question online survey based on The Educational Leadership Policy Standards: ISLLC 2008 (CCSSO, 2008) was emailed to all the NJ school principals. A Friedman's test for related samples was used to investigate the rankings of the 66 items that represented the ISLLC 2008 Standards' "functions" (Huizingh, 2007). This yielded a significant result which indicated that a preferred hierarchy does exist among these "functions" as perceived by this sample of NJ principals. The highest ranked item was "promote and protect the welfare and safety of the students" (Standard III) followed by "be an advocate for children" (Standard VI) and "collaboratively implement a shared vision and/or mission" (Standard I). Six of the 15 highest ranked items were from Standard II-Instruction. The second highest number of items (4) was from Standard I and the items related to creating and implementing a school's vision/mission. The lowest ranked function was "act to influence State and/or national decisions affecting student learning" (Standard VI). The next five lowest ranked items all came from Standard IV, ranks 2-6. These items represented promoting understanding, appreciation and use of community's intellectual, cultural and social resources along with building and sustaining relationships with community partners.