This discussion paper represents one of the National Association for College Admission Counseling's (NACAC's) first post-Testing Commission steps in advancing the knowledge base and dialogue about test preparation. It describes various types of test preparation programs and summarizes the existing academic research on the effects of test preparation on standardized test scores. The paper also presents newly published data collected by the author in cooperation with NACAC and its members about how colleges are currently using test scores in the process of making admission decisions. The purposes of this report are to (1) describe and summarize formal and informal methods of admission test preparation; (2) synthesize and summarize existing academic research on the effects of admission test preparation; (3) arrive at conclusions about the effectiveness of test preparation for admission testing; and (4) suggest future research needs in this area. The report concludes with recommendations to admission officers and high school counselors for implementing policies and training that can account for the effects of test preparation in the college admission process. Appended are summaries of SAT Coaching Studies. (Contains 6 tables, 6 figures, 12 footnotes, and bibliographies on coaching studies and coaching reviews.)