I tested my students at the end of the semester, so the content in my speaking test was stuff they had spent the semester learning and should already know. I'll show you my rubric though, because it'll give you a good idea of how I broke down my scoring.
It's basically divided into three sections, and is designed so that is students at least make an attempt at answering, they'll be rewarded with points.
Listening Comprehension (does the student understand the question, and is that reflected in their answer?)
Speaking comprehension (does the student know how to properly formulate a grammatically correct response?)
Pronunciation (my class focused on native speaking, using words like "gotta" or "wanna" and connecting that pronunciation to their textbook speech, so this would mark how well they incorporated those words or smoothly spoke using contractions and natural intonation)
So, for example...
Question asked: "Whaddaya wanna do?"
Student answer: "I'm wanna eat lunch."
Listening comprehension: 5/5 since they understood exactly what I was asking them
Speaking comprehension 3/5 because they've learned that "am/is/are" only accompany "-ing" verbs in what we were studying, and "wanna" never uses them.
Pronunciation: 5/5 because they used "wanna" and "I'm". If it took them a while to answer I'd dock it to 4/5 for fluidity, but in general they had the correct native answer.
Question asked: "Whaddaya doin'?"
Student answer: "I'm good."
Listening comprehension: 0/5 because they didn't understand at all what I was asking. Sometimes I'll live them 1pt if they thought I said "How're you doing?"
Speaking comprehension: It's grammatically correct, so 5pts
Pronunciation: 3/5 if they replied in a stilted way and didn't use a contraction, but 5/5 if they responded quickly and smoothly using "I'm".
Basically, it's designed to encourage those kids who constantly feel like they're failing to at least try and give an answer. I altered my questions for each class level (A/B/C ability) but the questions were in the same general subject "Whaddaya doin'?" (easy) vs. "Whadda yupto?" (hard).
You can see in my documents how I broke down their grades, and exactly what my grading rubric was for the speaking. I also have three levels of the exam for the kids since some speak next to no English while others caught on pretty quickly to the material.