The requirement where I live is that the child get 80% or better on the end of year test to move into the next grade math class. So, for instance, all of the 5th graders take the end of 6th test at the end of 5th. Those who get 80% or more right (along with a 95th percentile MAPs score for grade) can take 7th grade math in 6th.
Do you know if your district or school has any formal policy in place like that for subject acceleration? If she's just a bit short on the requirements if there are any, could they retest her on the end of 1st grade test or could she subject accelerate next year rather than this?
Is she getting any enrichment in class beyond the basic curriculum? If not, I'd ask what they generally do for kids who have already mastered the end of year requirements.
