This paper presents the evaluation results of an on-line collaborative examination process. The process includes students making up questions, picking out questions, answering, grading etc. all in an on-line environment (Virtual Classroom™). Data analysis shows students have a favorable feeling towards this innovative form of exam. More than 55% of subjects agreed that they learned a great deal from having to make up the question, looking at all the other questions, looking at others’ answers, and grading another student’s answer. Also 55% of them would recommend the process be used for future exams. Observations from the instructor are also presented. Lastly, possible improvements in the examination and evaluation process are discussed.