The term 'Standard of Perfection' refers to a set of criteria that is used to evaluate the quality of something. The two crossword solutions for this term are 'IDEAL' (5 letters) and 'IDEALITY' (8 letters). 'IDEAL' is defined as the perfect or most desirable example of something, while 'IDEALITY' is the state or quality of being IDEAL. Together, these two words represent the concept of striving for perfection in any given situation.