The Educational Testing Service (ETS) created the College Level Examination Program (CLEP) in 1965 and over the years it has become a staple of American higher education. In order to better understand the ramifications of the CLEP program, this article provides a brief history of CLEP and reexamines some of the findings of earlier research. The present study investigates new areas by addressing several research questions. For instance, what are the impacts of a student's age, academic ability, gender, and previous learning experiences in regard to passing a CLEP exam? How much time do students spend in preparing for CLEP, and how much do they learn compared to regular college course? The major findings of the study are that grade point average (GPA) and time spent in preparation were associated with success on the CLEP, while age and gender were not. In addition, previous learning experiences were also related to a successful CLEP exam. However, the exact nature of the previous learning is unclear, since having a high school course in the specific subject area was not related to CLEP success. (Contains 7 tables.)