The Preliminary SAT (PSAT) is an optional standardized test offered in the fall of each school year. The PSAT is a practice exam for students planning to take the SAT. The exam is broken down into three timed sections- Reading, Writing and Math. 

In addition, students who take the PSAT may qualify for National Merit Scholarships based on test results. 

Website: https://satsuite.collegeboard.org/psat-nmsqt 

Want to get some extra practice before taking the PSAT? 

Check out the link below: 

https://satsuite.collegeboard.org/psat-nmsqt/preparing 

"The approximately 7,500 Merit Scholarships are split across three categories. First is the National Merit $2,500 Scholarship, with the winners decided by college admissions officers and high school counselors. This award is a one-time payment of $2,500.

Next are about 1,000 corporate-sponsored merit and special scholarships, decided by National Merit Scholarship Corp. staff, with the amount and duration of the award varying by corporate sponsor and ranging up to $10,000 per year. Finally, there are around 4,000 renewable college-sponsored merit scholarships, with winners decided by the individual colleges and amounts ranging from $500 to $2,000 a year."

Source: https://www.usnews.com/education/best-colleges/articles/what-the-psat-is-and-what-to-know-about-the-exam