Blackboard has an extensive on-line quiz- and test-creating facility (in the Course Tools section of the Control Panel). Blackboard also offers surveys, question banks, and interactive rubrics.
There are over twenty different question types and numerous options available. Using question types such as multiple choice, true/false and matching (among others), you can create a test which Blackboard will score automatically (and enter the grade in the grade center). Assessment options include partial credit and various types of feedback for students after taking the test. Delivery options include taking tests multiple times, for self-assessment, with a timer or password, etc. Hamilton College currently provides most of the placement exams for incoming students via Blackboard, so many students have already had experience taking on-line exams. The Assessment tools are excellent choices for periodically testing comprehension of material.
Any option used for quizzes can also be used for surveys, including Likert scales. Surveys are anonymous and results are summarized in tabular form. Test and survey results can be downloaded to an Excel-readable file. Blackboard surveys are a great way to get mid-semester feedback.
One may also create a pool of questions which can be drawn from randomly when tests are created. This can be done on-the-fly so that every student has a slightly different exam. It is also possible to import publishers' test banks and other material.
A rubric is a tool that lists evaluation criteria for an assignment. Rubrics can help students organize their efforts to meet the requirements of an assignment. Instructors can use rubrics to explain their evaluations to students. Rubrics can be visible to students and instructors can use them interactively while grading.