The first is the SAT II. These are subject specific tests that students should consider taking in the spring of sophomore or junior year, or possibly late fall of senior year. Subjects include Literature, US or World History, Mathematics Levels 1 or 2, Physics, Chemistry, Biology, and various world languages. Some colleges require SAT 2 testing, while others suggest them--and if suggested, it will give students who do take them an advantage. The complete list of schools that require SAT 2 tests can be found at http://www.compassprep.com/admissions_req_subjects.aspx; notice that UVA is one school suggesting 2. Some schools also require them for admission to certain majors, such as engineering or nursing. SAT 2's are obviously best taken in late spring of the year the subject is taken, so some of these can begin as early as sophomore year.
Another type of test available but seldom taken is the CLEP (College Level Examination Program). Students can take these tests in a variety of subjects (list available at http://clep.collegeboard.org/exams/offered) for a cost of less than $100 (exact amount varies according to testing center). This is a great deal if the student gets a high enough score to get credit for a particular college course, since costs for a college course generally start at about $1,200. It is a bit of a gamble, since the score might not be high enough to qualify, but if you succeed it is well worth the effort. And with the cost of college these days, anything that can reduce the total is a good thing. The policies for accepting CLEP credit vary with different colleges, with the information usually available on the college's website. Like the SAT II, these are best taken directly after taking the exam it tests, so they can be taken at any time during high school.
One question I am often asked is if students have to take the AP exam for AP courses they take. This is a good question, since they aren't cheap, and if a student doesn't get a high enough score to qualify for credit (scores required vary according to college), then it seems like a waste of money. On the other hand, if a college sees that a student has taken an AP course and not opted for the test, there might be a question in the admissions officer's mind as to why that might be. I don't want to say that it would adversely affect the admission, but there is a possibility. On the other hand, if a student has really struggled with the course, there might be little likelihood of getting a good score, which can also affect the decision.
And for the SAT, here is an interesting article on myths concerning the SAT: http://www.golocalprov.com/lifestyle/college-admissions-sat-myths-busted1/
So sharpen those pencils and get ready--testing season has arrived.