The SAT and PSAT are two of the most widely used college entrance exams. The SAT, or Scholastic Aptitude Test, is a standardized test used by colleges and universities to assess a student's academic readiness for college. The PSAT, or Preliminary Scholastic Aptitude Test, is a practice version of the SAT and is typically taken by high school students in their junior year. Both tests are administered by the College Board and are used to evaluate a student's college readiness.