As a professional working with technology, I have observed how fast the work environment changes. The majority of the skills I learned in school 20 some years ago are outdated in my daily work. In todays fast changing environment, the most important skill is that of quickly learning new things. So basically the most important thing for schools is teaching students is how to learn new skills, adapt them and put them to use. With that respect exams are one way of testing this skill. However in reality you will always have access to information and tools.
I agree, @moeostar technology does change extremely fast. It's really good to hear your ideas - getting information from people actually working in industry is really valuable. I think this is why the changes I mentioned to subjects are occurring - there is more consultation with industry professionals during the development phase. Many schools are also moving to wards the idea of learning to learn too - developing in students life long aspirations for finding knowledge.