Wmiz77, did you get any other information than the grade equivalents (e.g. percentile rank, etc.)? I grabbed my oldest's old ITBS scores from 3rd grade b/c she was the same age as your dd at that grade. Her scores included the following tests:

Vocab, reading comprehension (these two together made up the reading total)
Word Analysis, listening, spelling, capitalization, punctuation, usage and expression (these made up the Language total)

Concepts & estimation, problem solving & data interpretation, math computation (these three made up the math total)

All of the above combined to make up a core total

Social Studies

Science

Maps & diagrams, Reference materials (these two made up the Sources of information)

ALL of the above made up the "composite"

We got a national percentile rank for each of the above tests as well as each of the "total"s and the composite. We, unfortunately, did not get grade equivalents so I don't know how my dd's percentiles would translate to GEs on that one test. My general feel, though, is that percentiles up to the 90th, especially if they are not across the board, can be accommodated in a reasonable classroom unless it is unusually low performing.

Do you know if any of her total scores, core total, or composite were that high? One stand out strength often isn't enough to get acceleration. Usually schools want to see the "total" (reading, language, or whatever) at the 95th percentile or so, which if I had to guess, would be somewhere around a GE of 6th grade for an early 3rd grader.