Awesome. Aping the accreditation, credit and degree system of brick and mortar academe doesn't make sense for the latest generation of educators - udacity, Coursera, Khan Academy, et al. Proctored exams to verify that the student knows the material are the way to go.

For final exams that cover an entire course, a test independently designed by a third party, using input from employers, entreprenuers and academics, might be a great supplement. Where you took the course would be irrelevant, so long as you could pass the test. It would allow for easy comparison of students in different programs.

Testing is a vital step in providing a credential at least as valuable as a college degree.