MS1 here - almost all of our exams (with a few exceptions such as the anatomy practical) are multiple choice.
For the most part, I find the exams to pretty fair overall. - I think that can be best shown by the fact that the class average almost always tends to be around the same point every exam, showing that the tests are weighed fairly and the questions are usually pretty fair.
No denying - some exams will have the occasional questions that are sometimes unclear/super tough.. But overall, I think the questions are fair/written well/cover the material from lecture. If you study well and know the material from lecture, there shouldn't be a problem doing well on the exams.
Oh and also - it's all pass/fail, which is a nice bonus