The purpose of this study was to examine the effects of Advanced Placement[R] (AP[R]) exam participation and performance on college grades for courses taken in the same subject area as students' AP Exam(s). Students' first-year college subject area grade point averages (SGPAs) were examined in nine subject areas: mathematics, computer science, engineering, natural science, social science, history, English, world language, and art and music. Using cross-classified multilevel modeling for each subject area separately, and controlling for gender, racial or ethnic identity, socioeconomic status and prior academic ability, as average AP Exam score in each subject area increased, expected SGPA increased. Model selection procedures led us to include the number of AP Exams taken in the model for only three of the nine subject areas: engineering, natural science, and social science. (Contains 27 tables and 3 footnotes.)