What you've described is certainly the model that is used at many schools, however it's not applicable everywhere. I've attended several schools with strong honor codes, and which allow students to self-schedule their exams within certain windows of time. At my current professional school, for example, we typically have a three day window in which to take an exam. We can show up at one of several exam locations at any point in time, day or night, within that window, sit down, take it, and leave. This is a very convenient system, and I greatly appreciate the flexibility that comes with it. However, when I walk out of the exam room, the exam most certainly does not become public information. This system absolutely depends on the rules of the exam extending outside of the exam room. If I could talk to one of the students who took the exam earlier than me about what was on it, that would absolutely be cheating.