Research Findings: The current study's main aim was to implement a multifocused, community-based intervention for preventing conduct problems in preschool children. Our assumption was that the same intervention program could be delivered concomitantly as a universal prevention program for all children as well as an indicated prevention program for high-risk children selected after screening for social and emotional competencies development. We used a quasi-experimental design with a between-subjects variable (intervention vs. comparison) and a within-subjects variable (preintervention, postintervention, and 3-month follow-up). The efficacy of the intervention was assessed for high-risk children targeted by the indicated intervention as well as for moderate- and low-risk children, who received the universal intervention. Practice or Policy: First, our results demonstrate the capacity of classroom-based interventions, without added pull-out sessions, to generate significant changes in high-risk children's competencies as well as externalizing and internalizing problems. Second, similar results were found for the moderate-risk, but not the low-risk, group, and these data suggest that marginally at-risk children are the most likely to benefit from participating in universal interventions. And third, comparing data from social and emotional competence risk groups indicates that underdeveloped emotional competencies might have a prolonged negative effect on children's social skills, which increases as a function of higher risk status. (Contains 7 tables.)