This report is another in a continuing series of reports on open admissions compiled by the CUNY Office of Program and Policy Research. An earlier report dealt with general trends in student retention at the City University of New York during the period September 1970 through June 1972. The new report studies academic trends, in terms of credits earned, grade point average, and the ratio of credits attempted. Data on which the study is based were collected for freshmen who entered in 1970 and 1971. For the 1970 freshmen, academic outcomes were described over the course of the first four semesters. For the 1971 freshmen, academic outcomes were described for the first two semesters. Data on the first year performance of the two classes were compared. Data were reported in aggregate form for senior and community colleges: comparisons between individual CUNY colleges were also present. Four major topics were considered: (1) academic performance of students (grade point average and credit operation); (2) retention as related to academic performance; (3) the impact of compensatory programs on retention and academic performance; and (4) comparison of academic outcomes for SEEK and non-SEEK students. Based on high school grades, analyses were conducted within certain high school average categories. (Author/JM)