Adult learners are already involved in the process of self-regulation; hence, higher education institutions should focus on strengthening students' self-regulatory skills. Self-regulation can be facilitated through formative assessment. This paper proposes a model formative assessment strategy that would complement existing university teaching, and can be used in higher education to promote student-centered self-regulated learning with minimal effort and time input from teachers. Based on this model, a real-world teaching example on writing an essay as a challenge task has also been developed. This model strategy incorporates Nicol and Macfarlane-Dick's seven principles of good feedback practice that promotes self-regulation. (Contains 2 tables and 1 figure.)