In recent years, conflicting reports have circulated about the number of colleges and universities that have made standardized tests optional, rather than required, for admission. The National Center for Fair and Open Testing, or FairTest, has widely publicized a list of 391 colleges and universities that, it claims, do not require admissions tests for admitting substantial numbers of students into bachelor degree programs. In this study, the number of such institutions are reanalyzed by examining colleges and universities that have SAT or ACT optional policies for making admissions decisions. Additionally, the characteristics of institutions on the FairTest list--including the type of institutions and the competitiveness of their admissions policies--are compared with all four-year U.S. colleges.