Achieve launched this study to help inform the decisions states are making about high school assessments by providing greater insights into the world of college admissions and placement testing. Achieve analyzed more than 2,000 questions from college admissions and placement exams to determine how these tests compare to one another and how well they measure the college and work readiness benchmarks created by the American Diploma Project (ADP). These benchmarks are being used by 29 states to align high school standards, curriculum, assessments and accountability systems with the demands of college and work. Achieve's ADP research shows that college faculty across states and institutions have a fairly consistent view of the rigorous level of reading, writing and mathematics skills that incoming freshmen need to be successful in first-year, credit-bearing college courses. In mathematics, students need knowledge and skills typically learned in a four-year mathematics sequence including Algebra I and II, Geometry, data analysis, and statistics. They also need sophisticated mathematical reasoning and problem-solving skills. In English, students need to be able to write and communicate effectively to different audiences, understand and analyze various types of complex informational texts, and apply sophisticated analytic and reasoning skills. Achieve's analysis reveals that college admissions and placement tests vary considerably--and do not fully measure the knowledge and skills that are included in the ADP benchmarks. Generally, admissions tests were found to be more demanding than the placement tests and better balanced in the types of questions asked. What are the implications of Achieve's study of admissions and placement exams for K-12 leaders as they seek to build college-ready tests into their high schools? Achieve recommends that K-12 policymakers: (1) Augment admissions tests when incorporating them into statewide testing systems; (2) Consider using end-of-course tests to tap higher-level content and skills and place students into college courses; (3) Modify existing high school tests to measure college readiness; and (4) Use existing college placement tests for diagnostic purposes only. Achieve recommends that higher education policymakers: (1) Clearly define expectations for incoming students; (2) Scrutinize placement tests given to incoming students to determine eligibility for entry into credit-bearing courses; (3) Collaborate with K-12 on the development of high school tests that fully reflect the breadth and rigor of the content needed for success in postsecondary education; and (4) Support the development and use of K-16 longitudinal data systems. The following are appended: (1) Tests Analyzed by Achieve; (2) Reading Methodology; (3) Writing Methodology; (4) Mathematics Methodology; and (5) ACT and College Board Descriptions of Tests. (Contains 30 endnotes.) [Achieve's 2004 study of state exit exams, "Do Graduation Tests Measure Up? A Closer Look at State High School Exit Exams," provided the foundation for this study.]