A new report took a look at the latest numbers and found that overall, more high schoolers are taking advantage of the opportunity to take these advancement placement - or AP - tests.

The report was compiled by College Board - the non-profit that administers AP exams as well as SAT exams. They found that not only are more teens taking AP tests, they are also a higher number of them seeing success than ever before. The number of U.S. students who graduate from high school and have taken an AP course has nearly doubled over the past decade.

Test-takers have to score a 3 or higher (on a scale of 1 to 5) on the AP exam in order for the AP course to be eligible for college credit. According to College Board, the number of teens with eligible scores was over 1.8 million in 2013, compared with just around 800,000 in 2003. Interestingly, among test takers, the percentage of kids receiving a three or higher hasn't increased - it was 61 percent in 2003 compared with 57 percent in 2013. So it's not that more kids are doing better on AP tests, it's just that more kids are choosing to take them.

And while the potential for college credit is certainly a perk, it's not the only reason that kids are taking AP exams. Some see solid AP exam scores as necessary as strong SAT scores for getting into a good college.

At $89 a pop — AP exams aren't cheap. Particularly if your high schooler needs to take more than one. But College Board insists that with the availability of a low-income subsidy, no student gets left behind if they want to take the test.

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Advancement placement exams: More high schoolers seek out college credit to get ahead
A solid AP exam score may be just as important as a good grade on the SATs when it comes to getting into college.