A course which has a large student enrolment consequently puts a heavy load on instructors both in the presentation and the assessment areas. In the School of Economics at the University of Queensland, this is the case for the quantitative analysis subjects. Assessment for many years has been through mid-semester and end of semester exams, as well as Computer Managed Learning (CML) assignments. In 2000 it was decided to incorporate a system of flexible assessment where neither the CML nor the mid-semester exam was compulsory. The outcomes are assessed and the advantages and disadvantages discussed.