“ Should formative assessment be recorded and computed as grade?”

I think that formative assessment should be recorded and computed as grade since it is still a record of a student's performance albeit in the middle of the lesson.  Formative assessments gage a student's understanding of the lesson while the lesson is going on.  It provides the teacher with a point of comparison to know if the student is learning the lesson accordingly.  Say for example that there is a student whose name is Carl.  His teacher, Sigmund, wants to know if his student is learning about Psychoanalysis (their topic) up to schedule or is learning it accordingly.  The topic is being covered for two weeks, after which there would be a mastery exam about Psychoanalysis (which would be the summative assessment).  He administers a 10 item multiple choice exam about the topics covered at the end of every meeting to gage if the student understands the lesson (formative assessment).  Teacher Sigmund finds out that Carl had a couple of items mistaken after the discussion on the three parts of the personality.  He also finds out that Carl correctly answered all the items after the discussion on defense mechanisms.  Armed with this knowledge, he can adjust his lesson to fit Carl's needs.  He can also check to see if there was any change in Carl's learning after he administers the summative assessment.  For Carl's part, the results from the tests every meeting can give him feedback on what he needs to follow-up on or reread and what topics he already has learned.  More importantly, it can give him assurance that he already has some good test results which can be added to his overall grade on the lesson.  Formative assessments should be recorded because they can provide additional components to the final grade a student can get in a subject.  They can be included in the final grade computation so that a student will know that his final grade is not depended upon the results of his final exam which would put less anxiety on the student.  It would also let the teacher calculate the final grade objectively and with confidence, since he has taken into account the assessments of learning which were administered after every meeting.