This paper presents results of a nationally normed achievement test given to two graduating classes of students from the first-in-the-nation Three-Year Bachelors Degree program in business administration. This 3-year 120-credit program at a small university in the northeast represents a new paradigm for postsecondary degree programs in that an existing 4-year (i.e., eight-semester) degree program was transformed into a competency-based, team-taught, interdisciplinary, and highly integrated academic program delivered in six semesters without summer school or intersession attendance. The program is student and faculty team intensive, involves a high degree of collaboration, and takes advantage of Web-based technologies to achieve its goals: student competency mastery. The Major Field Test (Business II) was given to two graduating classes of Three-Year students (Year 2000 and Year 2001) and to their 4-year business administration major counterparts at the university. Test results show that both of the two graduating Three-Year degree classes achieved at the same level as their 4-year counterparts. The benefits were that the 3-year degree students saved 25% of the cost of their college education and were able to enter the job market 1 year earlier than their 4-year counterparts. (Contains 5 tables, 6 figures, and 21 references.) (SLD)