Research carried out by Edexcel, one of the largest exam boards, found that students were surprisingly clueless about what actually happened to their carefully-crafted scripts.
While some believed their own teacher marked their work, others thought the Government was able to influence how many 'A' grades there were in any given year.
They were also convinced that most exainers were old, bearded and male and were unaware that their marking is also checked.
This year's candidates, however, should be better informed as the result of the publication of a new booklet by Edexcel which is being sent out to schools and colleges all over the country.
Aimed at GCSE and A-level candidates, To The Examiner uses cartoon characters to explain the exam paper's journey from exam hall to recycling bin.
Tina Townsend, Edexcel's chief executive, said: "I hope this booklet reassures students and their parents about the integrity of our examining system."