Research was conducted to evaluate how well the "Indiana Reading Assessment--Grade 1" evaluates various reading skills of grade one students. Multiple analyses were conducted; while the results of all the analyses were encouraging, the results derived from the concurrent validity study were most significant. All the correlations were significant beyond the .05 level and the percentages of agreements were high, indicating that the tool is a valid instrument for assessing phonemic awareness, phonics, vocabulary, and reading comprehension skills. Overall validity is also established by the Cronbach's alpha of .711. Two types of analysis were performed in order to evaluate whether the "Indiana Reading Assessment--Grade 1" was reliable in terms of parallel form reliability: split-half reliability, and inter-rater reliability. In all three analyses, the resulting correlations were adequate, with the split-half reliability most robust. The "Indiana Reading Assessment--Grade 1" was designed specifically for Indiana teachers to use in assessing students' reading abilities as determined by Indiana's Academic Standards for Reading. Although this report establishes the assessment tool as an effective assessment, the goal of the assessment goes beyond simply assessing to assist teachers in identifying at-risk students to provide intervention to enable students to realize reading success. Further experimental research is necessary to determine whether educators are effectively using the tool to identify at-risk students and provide intervention. Six appendixes are included: (1) Standards Coverage Charts; (2) Assessment Samples--Phonemic Awareness; (3) Test Comparisons; (4) Teacher Feedback; (5) Demographic Data; and (6) Descriptive Statistics. (Contains 3 footnotes, 6 graphs and 14 tables.) [For Kindergarten and Grade 2 Assessments, see ED502108 and ED502107.]