Sure looks like it! See "creates an incentive to become the most popular (ie, the easiest) exam." as it fits the Iowa Boys mantra to a tee.
These arguments have not convinced Britain's government, which has sought to make A-level tougher for students. Officials have forced the four exam boards that set and mark A-levels in England and Wales (which includes AQA, OCR, WJEC and Edexcel, a subsidiary of Pearson, which part-owns The Economist) to raise their standards and cut the number of retakes students are allowed. This helped to bring to a shuddering halt in 2014 31 successive years of rising A-level pass-rates. The government is now considering whether to replace the four exam boards with a state-run exams agency, as financial competition between these boards creates an incentive to become the most popular (ie, the easiest) exam.
http://www.economist.com/blogs/economist-explains/2015/08/economist-explains-7?fsrc=scn/fb/wl/ee/st/whyarealevelsinbritaingettingeasier
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