Ordered random variables are very common in practice. They occur as natural choice when dealing with extremes like floods, earthquakes etc. Ordered statistics and record values are two important components of ordered random variables. They play important roles in the theory and practice of statistics, A lot of basic formulae for ordered random variables and many examples, which illustrate theoretical statements,are given in the book. Chapters of the book include different exercises, which can help our readers to check their level of understanding of main theoretical results, presented here. An upgraded list of books and papers, the content of which is connected with ordered random variables, is also given.