The ability to read is highly valued in American society and important for social and economic advancement. One of the best strategies to prevent reading difficulties is to build basic literacy skills, thereby ensuring that all children are readers early in their educational careers. The purpose of this study was to determine the relationship between third-grade students' oral reading rate and scores on the Florida Comprehensive Assessment Test. The present study examined the relationship between the independent variables of Curriculum-Based Measurement Reading (R-CBM), ethnicity and socioeconomic status and the dependent variable of performance on the reading portion of the Florida Comprehensive Assessment Test (FCAT) in 215 third-grade students. The data presented in this study were collected by the Florida Center for Reading Research (FCRR) as part of a larger assessment battery across three school districts and nine elementary schools in Florida. Student demographic variables as well as performance on three different types of oral reading probes (generic, content, and FCAT passages) were investigated in relation to each student's performance on the reading portion of the FCAT. Results of the current study were similar to investigations in other states; the correlations among the R-CBM probes and between all R-CBM probes and FCAT scores were high and statistically significant. These results indicate that student performance on any or all R-CBM probe types can be used to predict FCAT score. Ethnicity and SES were not significant predictors of FCAT score above R-CBM score. Implications for educators and specifically school psychologists are discussed including opportunities for school psychologists to train educational personnel in the use of R-CBM. As evidenced by the current study, R-CBM may help identify students who are at-risk for reading failure and FCAT failure so that intensive interventions can be implemented early and student progress frequently monitored.