It just goes to show how disconnected academia is from real life.
side note: at Cambridge, every past exam in every subject[1] is in the college library[2], and it's assumed that you'll photocopy them and work through the last 5 years or so for practice. This doesn't help much, of course, because you get a new crazily difficult exam every year[3].
[1] probably not going all the way back to 1209... [2] i.e. 50-odd small libraries near the students' accommodation, mine was accessible 24 hours a day. [3] unless it's Terentjev in TP1 (Theoretical Physics 1), who just set us a bunch of previous years questions, which I hadn't bothered to finish solving because they never reused questions. I'm not bitter, I promise...
Interesting point. At the same time it justifies the existence of schools since a lot of people go to school to get a better job.
You see it less in the humanities because the sorting function of school is so much less important than the teaching function. No lucrative jobs are riding on getting a 3.7 in art history versus a 3.4. (Everyone will be unemployed anyway...)
As an aside, I'm convinced grades are just an awful aspect of "education." They don't serve any purpose other than making it easier for employers to figure out who to hire, which I don't think is a legitimate function of school.