This is a fantastic idea -- do you think that google caedoboard would create an immersive enough experience? While the cost of higher end VR rigs would be cost prohibitive for most individual test takers, is there a way that these could be incorporated into the model? Also, would it have to be only standardized tests? Could the VR experience include the interviews during the application process as well?
I was meeting with a Learning & Development professional at a Fortune 500 today, and he said that he has been really impressed with Degreed as a way to give employees credit for knowledge they are acquiring and sharing within the enterprise. His challenge (like most L&D functions) are budget constraint.