ExamCreator provides a friendly Windows interface and many useful features to simplify the manipulation of questions and exam files, and is the only way to go if you need to distribute your exams in an encrypted and compressed form (EXF format). Using this tool, you don't need to know the internal structure of an XML file to create rich exams about any subject, like:

• IT certifications (Sun, Microsoft, Cisco, Novell etc)
• Language tests (TOEFL, TOEIC etc)
• Management exams (GMAT, PMP etc)
• Educational exams (SSAT, ISEE, FUVEST etc)
• Admissional tests
• General quizzes
• And many more!

Create

• Design single, multiple, true/false, written and flashcard questions easily, including resources and explanations
• Assign subject, author, description and version information to the exam
• Assign Study References which can be accessed directly from the device (local files, web sites, Amazon book search)
• Import questions from text files
• Copy/Merge questions to/from separate exam files
• Validate files created manually
• Duplicate questions for little modifications
• Hide incomplete questions (drafts) from the final exam

• View statistics about distribution per topic, type and difficulty level
• Change question ordering
• Export questions to HTML files for revision, printing, or distribution

• Define exam settings, as number of questions, minimum score, duration, question and answer ordering etc
• Define how the score is calculated (weight-based, time points, negative points etc)
• Protect (lock) exam settings

• With just one click, create a read-only, compressed and encrypted exam file (EXF format)
• Protect your file with a password that must be purchased to unlock the exam
• Let your exam run in Trial mode until the password is entered

More information here.