Assessment is the measurement of student learning and performance. Two general categories of assessment are formative and summative:

Formative: occurs throughout the learning process and gives both students and the instructor feedback about the learning that is taking place. Formative assessments help students and the instructor target areas needing work before the summative assessment. Formative assessments are low stakes, meaning they have a low or no point value.
Summative: measures student learning at the end of an instructional unit. Summative assessments are high stakes and count for a high percentage of the student's grade for the course.

The following video gives an overview of assessment and also discusses formative and summative assessments.

http://www.youtube.com/watch?v=Xd_QgdtFn54#t=29

Examples

Formative	Quizzes Short essays End-of-chapter questions Questions or problems with the answers posted Online discussions Short case studies Reflection questions such as what was the most important thing you learned this week and what questions remain unanswered
Summative	Unit exams Research papers Speeches and team presentations Extended case studies Product-based activities (artwork, building a model, portfolio)

We encourage you to use a variety of both formative and summative assessments in your course. Formative assessments are especially important to student learning. They help students assess their learning as they progress through a module and make needed adjustments before the summative assessment.

Additional Resources

Carnegie Mellon, Formative vs. Summative Assessment

Fact Sheet: Formative Assessment