The quality of multiple choice items used in a final examination was assessed by carrying out statistical item analysis. The responses of 106 first year BS Pharmacy students to 50 multiple choice items in a final examination in Pharmaceutical Calculations were evaluated. The mean item difficulty index was 0.4507, with 86% of items having a moderate item difficulty index between 0.20 to 0.90. On the other hand, the mean item discrimination coefficient was 0.3420, with 84% of items having acceptable coefficients more than +0.30. There was a significant moderate linear relationship between the item difficulty and item discriminatory coefficient. Of the total 150 distractors, 28% were flawed either because less than 5% of the examinees selected them or because their selections were positively rather than negatively correlated with test scores. Discriminatory power of an item was more affected by the selection of one or more distractors that were positively correlated with the test score, but minimally affected by the presence of distractors that were selected by less than 5% of examinees. The final examination was a reliable instrument for evaluating the student's performance in the subject. It is suggested that all instructors of the university should regularly conduct test item analysis to improve the quality of their multiple- choice tests and when necessary. modify distractors that impair the discriminatory power of items.