Story Retell is one way to measure listening or reading comprehension. This is usually done using a rubric as there are so many elements that need to be measured as well as the support that you may be giving to the student.
Reading A to Z has a story retell rubric for both fiction and non-fiction. Check your school if they have a subscription to this ( URI does).
This is from Louisiana and it has standards in it.
This is an excellent document that not only has rubrics but also some really interesting strategies to work on retelling at a variety of levels.
It comes from the Illinois State Board of Education.
This is one that I developed.