At the macro-level, it seems to me that we rely heavily on ordination exam results for many of our classes, but especially Bible. I am not convinced that this is an accurate assessment tool for the Bible-related learning outcomes of our program, though it does have the advantage of being "objective" (or at least giving the appearance of objectivity).
Anecdotally, I am confirmed in what we are doing when I see and hear students preach and interpret Scripture in "public" settings. Often, this kind of "evaluation" or "assessment" comes outside the bounds of the classroom and has a real "rubber-meets-the-road" feel to it.