I'm actually quite good at retaining information on the condition that I have not procrastinated and have spent time studying and reviewing the material that is going to be on a test beforehand. I do admit, though, that I get very antsy and nervous on tests, and I think this is my downfall when it comes to being able to finish tests on times. When I finish a test, I'm always thinking the worst in mind, like if I possibly failed it or something, when in fact I'm just overreacting. I guess you could say I have test anxiety?
My favorite type of test would have to be multiple choice, although people think that MC tests are the easiest, when in fact they can be pretty difficult. In the end, though, it all depends on how the teacher/professor formats their tests.