After just having given one ,Im fresh with memories of spending 1.5 hrs pencil shading on a thick white sheet printed with pink circles and instructions.

Pros
1.Professors don't have to go through bad handwriting and shocking answers.They can Of course choose to put in funny options for a bit of humor in their humongous lives.
2.Students can play games like "eenie meenie minee moe".Its both relieveing and accurate at 5% level of singnificance.Ok make it 25% for the unlucky folks out there .
3.
a)This is one format that gives a better scope to cheat.But one has to be really really careful with the sequence.
b) Easier to cheat since your "helper" just needs to point out the correct option.You can make good use of fingers and even indulge in some stretching exercises while doing this.
4.If you finish shading the whole thing early.You can always make the shading darker.Dark black holes on a white pink printed sheet.Reminds me of those being abused in the name of love.

Cons
1.Professors dont get to read funny answers.Students are not allowed to be "creative"
eg.Q)How does amoeba catch its prey?
ans)In the wee hours of daylight when the sun has just come out.Little Amoeba steps out of its den.Like a skilled hunter it cautiously follows its prey.It suddenly grabs its prey from behind and with one sharp stroke the prey is killed by the swift amoeba.The end.
2.People with good handwritings don't get a better score.Some people are Ofcourse happy with this(read.............. umm ok dont read).
3.People with Luckier stars get undue advantage.