Examinations occupy a strategic position in our lives and society today. In a situation where moral principles, rules and regulations for conducting examinations are truncated by either teacher or the learner, the validity and reliability of examination and certification are at risk. The nature and process of examination is something that should be looked into deeply having known the role of examination in our lives. That is essence of this paper; the way high-stakes examinations have affected various aspects of the education system in the realm of teaching, learning, assessment, discipline, roles of stakeholders, teachers' beliefs, community expectations, functional role of education, educational outcomes, individual differences, psychological status of learners, educational returns, school completion etc. This paper articulated these issues in terms of using high-stakes examinations as a measure of accountability in the education system and premised on the level of faith placed on these high-stakes examinations irrespective of educational value thereof.