Formative: assessments such as exit slips, end of class discussion, question and answer, etc. that monitor day to day progress of student learning
Summative: assessments such as projects, tests, and presentations that verify student knowledge.
Interim: assessments such as quizzes, homework, and discussions that monitor students throughout the learning process.
Formative: teacher observations, monitor student progress, scores may or may not be recorded
Summative: rubric or test grade
Interim: similar to formative
Relationship between the three: Interim and Formative should be used as checkpoints to monitor progress whereas Summative are used as a capstone to measure how well students have learned the material.