Reading Grade Levels

This may seem like a silly question, but I've been wondering for a while.
When it's said that a child is reading at a particular grade level (say,
grade 1), does that mean the level at which they should be reading at the
BEGINNING of that grade level or at the END of it?

I ask primarily because my daughter has been coming home with Accelerated
Reader reports on books she's been reading at school, and these reports
include the book's grade level. She is in first grade, and most of the books
she's reading at a level of 1.5 or above. So that made me wonder whether 1.5
is where she SHOULD be halfway through the first grade or whether it's the
level at which a child in the middle of the second grade would be expected
to be read. It's not that I particularly CARE whether she's where she should
be or ahead, only that I'm curious!

Donna Metler...

Usually 1.5 would be 1st grade, 5th month, so exactly where she should be.
1.9/2.0 would be end of first, beginning of 2nd.

Can anyone shed some light?

Barbara...

1.5 is the fifth month of first grade.

Circe...

Yes, it does, thanks! So that means a child should be reading at grade 2
upon entry to grade 2. Cool!