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This study examines whether the following three strategies can be used to evaluate principal preparation programs and, if so, what would the guidelines be for appropriate use. Each of these approaches has been written into state policy recommendations for evaluating principal preparation programs in the past two years, without research to support their use: (1) aggregating the value-added estimates of graduates from a program to the program level; (2) calculating the placement rate of graduates into principal and/or school leadership positions; and , (3) calculating the retention rate of graduates in principal and/or school leadership positions. This work is a direct response to political pressures outside the field of educational leadership calling for accountability for principal preparation programs.