This paper will examine and discuss the role of Formative Assessment and its impact on Learning. The context for the paper is a revised curriculum currently being implemented in primary schools. For the first time, the curriculum has explicitly identified Assessment as playing a central role in classroom practice. The presentation therefore examines the relationship between assessment and learning. The literature on assessment has identified the need to clarify assessment in terms of forms and functions. The paper will discuss the function of Formative Assessment and its relationship with learning. Feedback has been noted as critical to the practice of Formative Assessment. The paper focuses on the concept of feedback with particular reference to the roles of different participants in this process. Interaction between these participants is central to the feedback process. The paper will critically examine the interactions that occur as part of classroom practice with a view to identifying how these interactions might or might not contribute to both learning and assessment.