I'd like to learn about pitfalls and benefits of building and/or using a home grown on-line placement test rather than one of the corporate solutions. I'm thinking that the placement center could offer a separate small tests for placement into algebra, intermediate algebra, college algebra, and possibly an even smaller survey test to assist those students who are unsure which test they should take. The material covered by each of these test might be a condensed version of the final exam of the prerequisite course. Ideally, the test questions would be generated dynamically by computer and there would be at least some randomization.
If anyone has built such a system or is contemplating doing so, or if you know of any free on-line placement facility, please let me know.