It stands for Basic Knowledge Assessment Tool and is developed for critical care areas. As the above poster said, it gives guidance to those who do the hiring or education so they have an idea about your strengths and weaknesses. It can help provide a more focused orientation or help determine the length of orientation needed.
Critical Care Nurse (Aug 2006, vol 26, no 4) had an article about this "Follow-up Survey 10 years Later: Use of the BKATs for Critical Care Nursing and Effects on Staff Nurses" if you are interested.
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