High Stake Exams

The UPSR results are out! Joey passed with 7A's. Her mother, Li Qi was overjoyed. So am I! I had taught her and her siblings English.
"How will you reward her?" I asked the mother.
"We'll see," she responded.
I wonder if this high stake exam will still be on next year. There was talk that it might be scrapped because it can be a source of great stress for candidates. It's true that written exams may not be the best assessment of a student's abilities. After all, one's performance in a big exam is dependent on several factors apart from head knowledge. An otherwise brilliant student may not perform well because some circumstance has upset his/ her equilibrium. A cold, poor sleep, bad news can take its toil on one's thinking skills at a time such as this.
Despite such factors, I personally feel that exams are valid instruments for assessment.