Sees term out, academic term (8)
I believe the answer is:
semester
'academic term' is the definition.
(semester is a kind of academic term)
'sees term out' is the wordplay.
'out' indicates an anagram (out can mean wrong or inaccurate).
'sees'+'term'='seesterm'
'seesterm' anagrammed gives 'SEMESTER'.
(Other definitions for semester that I've seen before include "Academic period" , "Half-year university session" , "A term in American university" , "Half US academic year" , "study period" .)