The Preliminary SAT, also known as the PSAT/NMSQT® (National Merit Scholarship Qualifying Test), is a practice version of the SAT exam. You can only take the PSAT once per year, and many students take the test in both 10th and 11th grade. If you earn a high score on the PSAT your junior year, you could qualify to receive a National Merit Scholarship—$180 million dollars in merit scholarships are awarded to students each year. The PSAT is 2 hours and 45 minutes long and tests your skills in reading, writing, and math. Unlike the SAT, the highest score possible on the PSAT is 1520.