Part 61 - Number of CFI's

[Pinecone]

"Maintain the entry altitude ±100 feet, airspeed ±10 knots, bank ±5°, and roll out on the entry heading ±10°." Or not.

How do you 'Exceed' the standard vs 'Meets'?

Meeting the standard would be as stated.

Exceeds the standard would be altitude +/- 50 feet, bank angle +/-3 degrees and roll out on heading +/-5 degrees.

You can also grade based on stage of training. The first time a student does steep turns they may not meet the PTS standard, but they may do a whole lot better than expected for a 5 hour student.