No they are not! Mine are in a locked case, the combination of which is know only to the appointed Examiners. The case itself is locked in a cabinet, the keys of which are kept in an office to which only 4 people have access - and which is never left unlocked!
RF/FTOs MUST take security of their papers more seriously, otherwise we'll probably find our students having to sit exams at local testing centres - as the CPL/ATPL exams are.