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Introduction: Innovations that have strengthening the practice of formative assessment produce significant and frequently significant learning gains. -Dark and William, 1998b, p. 140 This conclusion from influential review of research by Black and Wiliam (1998a, 1998b) to formative assessment has altered the face of evaluation in present education system. This comprehensive review emphasises the possibility of assessment in increasing standards i.e. assessment for learning (AfL). Through research, it was found that students gain accomplishment when teachers rely on formative assessment/s. Another result from their analysis claims that certain formative assessment practices greatly increased the accomplishment of low-performing pupils. Summative evaluation can be described as summary assessments of individual student performance such as tests, examinations and end-of-year marks. It may be used for promotion, certification or admission to high degrees of instruction. By comparison, formative evaluation draws on information gathered in evaluation process to identify learning needs and thus adjusting instruction accordingly. Summative assessment is also called assessment of learning whereas evaluation assessment, as assessment for learning. The reason for raised importance of appraisal derives from the increasing realisation of the worth of continuous assessment in informing teaching and improving learning. Within this informative article, a brief description of the primary features, principles and approaches that underpin the concept of both kinds of assessment has been discussed. Findings about their impact and effect on learning and teaching are presented. In the prior part of the paper, rationale of assessment of learning and assessmen...