This study was undertaken to update What College Students Say About Advanced Placement, a report based on interviews with AP students in the late sixties. A second objective was to initiate a series of validity studies in ten colleges that receive AP candidates. It was found that AP candidates who are placed ahead in the field of their "qualifying" AP examinations do better than the generality of upper classmen in those courses and that the AP policy suggested to colleges by the Advanced Placement Program seems justified and appropriate for the colleges in this study. In general, AP candidates reacted very positively to the AP experience in high school and to the outcomes of their participation in college. (18pp.)