Education: Exams for Sale

Peabody College (in Nashville, Tenn.) is a school for teachers, but last week its most talked-about course was an informal seminar in applied business administration. Graduate Student David Wynne, 26, got the basic idea when he learned that Jesse Shaw, 22, an old friend from his undergraduate days at the University of Tennessee, had signed on at Peabody as night watchman. Watchman Shaw had a key to the college mailroom, where exams are mimeographed, and shortly the operation had its stock in trade. Student Wynne capitalized the venture by selling an exam and...

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