Every testing system has its pros and cons. Multiple choice is hard to devise, since the correct answers must not be too obvious and the incorrect answers must be close and believable without being deliberately confusing. Most examiners hate devising multiple choice questions. I spent quite a lot of time with those, in another technical environment. They are limited in what can be tested well.
It is easy to default asking silly questions about irrelevant minutiae, like the dates of regulations. Harder to ask good questions about practical matters without the questions becoming unduly long and complicated. It is easy to assess and cheap to mark.
It does encourage some to ‘study to the test’, in place of understanding the topics. It is possible to pass without real understanding. That said, someone who understands the topics will do fine, if they read the questions carefully and stay calm.
The current questions, if the trial questions are any guide, do include what I would view as ‘trick’ questions, designed to catch candidates out. That I think is unsatisfactory, but very common. The new ‘quadrant’ process ought to be better, provided no trick questions are involved. Time will tell !