Cloze Procedure
Find an interesting short story from a magazine, or type up the content of a short children's book. Form into a transparency. Cover several of the words, and have students guess what the words are. They may not get the exact words, but they should be able to pick words that make sense. This is called the Cloze procedure. It can test your students ability to use syntactic, semantic(meaning), or schematic clues depending on the words you choose.

Another variation is to take a piece of text and delete every 7th word and have students fill in the blanks.