This article describes a Standards-Based Grading (SBG) implementation used in a variety of lower-level mathematics courses, notably including the use of oral re-assessments. A retrospective study of this implementation was conducted that showed that female students take advantage of optional oral re-assessments at greater rates than male students (p < 0.0001). This paper also discusses the potential ways the assessment structure of SBG can foster a more equitable learning environment, such as through reducing anxiety and stereotype threat in students.