Final answer:
A standardized test is defined as a test given under the same standard conditions, ensuring consistency in administration, scoring, and interpretation across all test-takers.
Step-by-step explanation:
The most accurate definition of a standardized test is that the test is given under the same standard conditions. This includes consistency in administration, scoring, and interpretation of results. Standardization is a method of testing where these factors are kept consistent across all instances of the test. Norming, on the other hand, entails administering the test to a large, representative sample to collect comparative data. This provides norms, or reference scores, for interpreting future scores on the test. An example of such a process is the development of the Stanford-Binet Intelligence Scale.
Standardized testing plays a crucial role in educational settings. It can affect educational policies, such as those seen with the No Child Left Behind Act, and can carry high stakes, influencing the amount of funding schools receive and the perception of students' abilities. The questions of fairness and equality in standardized testing also arise, especially when discussing the accessibility of such tests to students with disabilities and potential biases that can affect specific groups of students.