Assessed faulty tread (5)
I believe the answer is:
rated
'assessed' is the definition.
(I've seen this before)
'faulty tread' is the wordplay.
'faulty' indicates an anagram.
'tread' with letters rearranged gives 'RATED'.
(Other definitions for rated that I've seen before include "Estimated the value or assigned a ranking" , "Scolded (archaic); assessed" , "deserved" , "Assessed in trade" , "Thought highly of" .)