ABSTRACT This study investigated the possibility of item parameter drift (IPD) in a calculus placement examination administered to approximately 3,000 students at a large university in the United States. A single form of the exam was administered continuously for a period of two years, possibly allowing later examinees to have prior knowledge of specific items on the exam. An analysis of IPD was conducted to explore evidence of possible item exposure. Two assumptions concerning items exposure were made: 1) item recall and item exposure are positively correlated, and 2) item exposure results in the items becoming easier over time. Special consideration was given to two contextual item characteristics: 1) item location within the test, specifically items at the beginning and end of the exam, and 2) the use of an associated diagram. The hypotheses stated that these item characteristics would make the items easier to recall and, therefore, more likely to be exposed, resulting in item drift. BILOG-MG 3 was used to calibrate the items and assess for IPD. No evidence was found to support the hypotheses that the items located at the beginning of the test or with an associated diagram drifted as a result of item exposure. Three items among the last ten on the exam drifted significantly and became easier, consistent with item exposure. However, in this study, the possible effects of item exposure could not be separated from the effects of other potential factors such as speededness, curriculum changes, better test preparation on the part of subsequent examinees, or guessing.