Assessment is a word you hear a lot around schools — an assessment is an evaluation, and one type of assessment is used to measure what someone knows or has learned. Tests and term papers can be assessment tools.
More than just students are given assessments. You might bring your dad's plastic gnome collection to an expert for an assessment and find out it's worth all of $15.35. You might make a quick assessment of a sticky situation — say it's you, a tasty ham sandwich, and your hungry dog— and decide to run.