In this research report, we review commonly held beliefs about test-optional policies and practices. Focusing solely on empirical evidence, we highlight research findings that directly address the state intentions and actual outcomes of such practices. Throughout the paper, we raise concerns with test-optional policies as they pertain both to institutions as well as the students they serve. We conclude with recommendations that colleges and universities employ holistic models of education readiness and success, supported by the notion that more information about students is better than less. [For the Technical Brief to this report, "More Information, More Informed Decisions: Why Test-Optional Policies Do "Not" Benefit Institutions or Students. Technical Brief," see ED573718.]