Formative and summative assessments serve different purposes. Formative assessments are used during instruction to provide feedback to students and teachers to improve learning, while summative assessments evaluate learning at the end of an instructional period. Effective formative assessments include sharing learning objectives, providing feedback, and activating students as owners of their learning. Summative assessments should match the skills taught and avoid assessing unfamiliar tasks. Tests need validity in assessing what was taught and reliability in producing consistent results. Teachers aim to effectively prepare students for important tests without limiting effective instructional methods.