The article discusses the challenges of and solutions of developing a common, general standards referenced student assessment framework for mathematics. Two main challenges are faced. First, the main challenge is the lack of commonly accepted standards as the basis for the criterion- and standards-referenced assessment. Second challenge is that, even if having criteria and standards for the assessment, the descriptions of the standards are, in many cases, so vaguely worded that it is not possible to create unambiguous test items on the basis of a specific level of the standards. An initial common framework for mathematics standards is introduced on the basis of Common European Framework in Reference for Languages (CEFR) -- a common framework for mathematics (CFM).