This paper summarizes a panel discussion that addressed exit-exam policies and dropout issues. It presents the panel members' conclusions about existing research and their recommendations on what kinds of further work are needed. Research on how exit exams affect dropout rates is limited and inconclusive, so policies continue to be made in the absence of good information about the consequences for students and society. Most of the paper focuses on the paucity of research as it offer recommendations for further research, including longitudinal studies. The paper does, however, recap some research on dropouts that focused on the underlying reasons for dropping out. The paper concludes with the following recommendations for policymakers to support better information and practices on the potential costs and benefits of exit exams: (1) Report more informative exit-exam results; (2) improve data systems; (3) provide incentives for accurate recordkeeping; (4) keep historical records; (5) consider menus of policies; and (6) support success. (Contains 19 references.) (WFA)