Assessments are an inevitable part of the educational and business world. They may be in the form of tests, exams, quizzes, or assessments, but they all play a significant role in evaluating the knowledge and skills of individuals or groups. However, not all assessments are created equal—some are high stakes, while others are low stakes.
In this article, we’ll discuss the differences between high stakes vs low stakes exams and how to prepare for them accordingly.
What are High Stakes and Low Stakes Exams?
High stakes exams are assessments that have a significant impact on the participant’s outcome. For instance, if a student fails a high stakes exam, they may not be able to graduate or get a license to practice. Conversely, if they pass the exam, they might be awarded a scholarship, promotion, or job opportunity. Examples of high stakes exams include GRE, GMAT, LSAT, and AP exams.
On the other hand, low stakes exams are assessments that have little to no impact on the participant’s outcome. These assessments are typically meant to evaluate or diagnose the participant’s level of understanding on a particular subject. Examples of low stakes exams include classroom quizzes, homework assignments, and diagnostic tests.
Preparing for High Stakes Exams
High stakes exams require more preparation compared to low stakes exams because the outcome is critical. To start with, you want to ensure that you are familiar with the exam format, structure, and time limits. You can do this by taking practice tests or getting insights from previous participants.
You also want to identify your strengths and weaknesses and create a study plan that focuses on improving your areas of weakness. Additionally, you want to ensure that you get adequate rest and nourishment before the exam day to optimise your performance.
Preparing for Low Stakes Exams
Low stakes exams still require preparation because you want to ensure that you get the best possible results. However, the preparation is not as intensive compared to high stakes exams. For instance, you can prepare for a low stakes exam by reviewing your notes, textbooks, or online resources.
You can also discuss with your peers or attend review sessions to reinforce your understanding of the concepts. However, you don’t have to put too much pressure on yourself because the outcome is not as critical.
How Businesses and Educational Institutions Can Prepare for High Stakes vs Low Stakes Assessments
Businesses and educational institutions can also prepare for high stakes vs low stakes exams differently. For instance, a business may prepare its employees for a high stakes exam by providing them with study materials, paid study leaves, or exam fee reimbursement. Additionally, the organisation may monitor the employees’ progress and offer support where necessary.
Similarly, educational institutions can also provide their students with study materials and practice exams for high stakes vs low stakes exams. However, they can also adopt alternative assessment methods such as project-based assessments, presentations, or papers to reduce the burden of high stakes exams. Furthermore, they can provide remedial classes for students who may struggle with exams to ensure that they get the best possible outcome.
In Summary
High stakes vs low stakes exams are different in terms of their impact, preparation, and outcome. Preparing for high stakes exams requires more intensive preparation while preparing for low stakes exams can be less intensive. However, both types of assessments require some form of preparation to ensure the best possible outcome.
Businesses and educational institutions can also play a significant role in preparing their employees and students for these exams and should adopt the appropriate measures accordingly. By preparing adequately, you can ensure that you optimise your performance and achieve the best possible outcome in your assessment.