Final or midterm
I believe the answer is:
test
I believe this clue is a double definition.
'final' is the first definition.
(thesaurus)
'midterm' is the second definition.
(I've seen this in another clue)
(Other definitions for test that I've seen before include "Critical examination or trial of qualities or abilities" , "Assay" , "water flowing through Hampshire" , "Trial - big match" , "Trial - international game" .)