[pishpash]

Exams have performance variance. Otherwise you're only getting a pass/fall signal in any case.

[aianus]

Grading assignments just punishes people that don't cheat on their homework. It's worse than worthless, it actively helps the worst students.

[vasco]

Exams are the only fair way to evaluate if someone knows something (written or oral, in person). Take homes and attendance are just window dressing.