This report covers the 1986-87 testing year in which eight colleges or schools at the University of Texas (UT) at Austin participated in the credit-by-examination program. Test results in 18 subject areas are reported. The summary section includes a discussion of the overall impact of credit-by-examination on eight participating schools or colleges, as well as comparisons of the 1986-87 test results with results from preceding years. Evaluations of 26,023 test scores, covering 51 subject areas in 171 courses taught in 36 departments or divisions are recorded in this report. Of the 10,735 individuals who participated, 29% earned no credit eligibility, 20% earned between one and three semester hours of credit eligibility, 18% merited between four and six semester hours, and 25% earned from seven to 18 semester hours. At the upper range of the scale were 6% who earned between 19 and 30 semester hours and 2% who qualified for more than 30 semester hours. Four types of tests were used in the credit-by-examination program: (1) UT Austin Tests for Credit constructed locally by certain academic departments; (2) College Board Achievement Tests; (3) College Board College Level Examination Program Subject Examinations; and (4) College Board Advanced Placement Examinations. (KSA)