Have you ever wondered what reading level your child is on? The easiest and cheapest way to assess this is to find a book your child is already able to read easily, and then to look up its corresponding level on a Guided Reading site. You can find more information about how to do this in one of my previous posts: https://teachingmybabytoread.com/2011/03/01/guided-reading-levels/
If you want a more formal assessment, or if you are keeping a record book of your child’s progress, you might want to invest in an official reading assessment book. These will provide you with several three minute assessments where your child reads a passage aloud and you mark down errors and mistakes on a corresponding piece of paper. This can also help you analyze any error patterns your child might be making.
Here is an example of an assessment book that I have at home:
One caveat about this book, and these types of assessments, is that they often show a child reading a grade level above what they would actually be able to do in real life. For example, Bruce tested at the fourth grade level on one of these tests, back in fall when I knew as a teacher he was only reading at the entering second grade level. Just because he could sustain a fourth grade passage for three minutes, did not mean (at that point) that he could read an entire fourth grade chapter book to himself.