Oh, we do have those. We even call them AIMS (Just sub Australia in instead of Arizona). But they don't really mean anything. Even if you do appallingly.
SAT's are School Assessed Tasks? *is guessing* We have SAC's which are horribly named School Assessed Coursework.
What uni course we end up at is decided by our SACs and exams, but only in Yr 12, or any 3/4s we do in Yr 11.
They could recommend you stayed behind if you did badly, but it doesn't effect your uni applications and is generally used to see if there was an area where all the students were doing badly, and if the school needs to update its course.