The Society for Simulation in Healthcare convened the second Simulation Education Summit meeting in October 2007 in Chicago, Illinois. The purpose of the Summit was to bring together leaders of public, private, and government organizations, associations, and agencies involved in healthcare education for a focused discussion of standards for simulation-based applications. Sixty-eight participants representing 36 organizations discussed in structured small and large groups the criteria needed for various training and assessment applications using simulation. Although consensus was reached for many topics, there were also areas that required further thought and dialogue. This article is a summary of the results of these discussions along with a preliminary draft of a guideline for simulation-based education.