Standardized IQ tests are vastly employed to assess and evaluate the individual intelligence; they have both points of strength and points of weakness.

Points of Strength

Standardized IQ tests are reliable, their results are always consistent when they are given to the same person in different situations.
They are valid, which means that they measure what they are indeed supposed to measure (which is the person's intelligence).
IQ tests are widely employed and accepted in different settings, such as schools, workplaces, and research studies.
They provide a quantitative measure of a person's cognitive ability that could be compared across many individuals.

Points of Weakness:

IQ tests are biased: culturally and socially. They were developed on a specific population which might not accurately reflect the level of intelligence in other cultures or groups.
IQ tests are only limited to measuring a narrow range of cognitive abilities. They do not assess creativity, emotional intelligence nor practical intelligence, and other types of intelligence.
They do not consider factors, like motivation, previous knowledge, and test-taking techniques, which can affect test performance.
They don't measure intelligence of adapting to real-life situations and problem-solving skills.

It is important to note that IQ tests should not be used as the only measure of intelligence but as one aspect of a more comprehensive evaluation. IQ test scores should be considered along  with other information about the person taking the test, such as their experiences in life, educational background, and observed behaviours.