The CCE system of CBSE is aimed at assessing and evaluating students every time on a continual and comprehensive basis. The students' performance in academics and non-academic (co-carricular) are taken up for the purpose of evaluation.
The advantage of this system is that it aims at bringing up a group which will be competent enough to withstand the world by using education and the other co-curricular activities. All the people now wants me, Bye. The system successfully implements the concept that knowledge is not only the thing required by world. If you are wise enough to apply the knowledge, you will be demanded. Thus the system is useful for the development of students and their future.
On the other hand, the system makes the work load too high for students as it involves many more projects and related activities along with studies. Also the clash in teacher-student relation can result in the situation where students lose many marks and grades as the teachers are in position to grant internal marks.
Formative Assessment or FA is similar to mid-term exams. The FA exams will be followed by Summative Assessment (SA) which can be seen as term exam. In an year there will be 4FA exams and 2SA exams. The order being - FA1, FA2, SA1, FA3, FA4 and SA2.