Don't think it is an exam - the pranksters'd find themselves out on their ass from the faculty pretty damn quickly, unless they've taken the Skule/Bnad crap lightly. Probably the OPSAT or something, a fake exam they make frosh do where they give them 3rd and 4th year questions, they do dress it up well so it's easy to fall for until you look at the questions.
Heh, I did like that lecture hall, one of the newer ones. Did get too hot in winter.