This paper describes how a state education system in Australia introduced standards-referenced assessments into its large-scale, high-stakes, curriculum-based examinations in a way that enables comparison of performance across time even though the examinations are different each year. It describes the multi-stage modified Angoff standard-setting procedure used to establish cut-off scores on subject examinations, and how the results from this exercise were then used to develop standards packages. These packages illustrate the performances of students at the borders between the various bands. The paper also shows how originally it was intended to use a Rasch measurement model to create the statistical feedback used in the standard-setting procedure. It also describes the modifications to the feedback that were necessary to meet the real-time constraints of this large-scale examination programme. It argues that consideration should now be given to using the Rasch model to provide this feedback instead of the current approach. (Contains 6 figures, 1 table and 1 note.)