The 2011 tornado event in Alabama left college students with a choice to be exempt of their final examinations or participate in an attempt to improve their overall grades. This incident provided an opportunity to conduct an observational study with the goal of measuring the academic effort of business undergraduate and graduate students. The observation methodology utilized total enrollment of 3804 with an undergraduate enrollment of 3298 and a graduate enrollment of 506 for the spring term of 2011 which included 969 undergraduates and 276 graduates. A stratified random sampling was used to collect enrollment data according to 8 disciplines within the business college. Findings of this study suggest graduate students outperform undergraduate students in grade improvement. In fact, the eligibility rate and successful rate for obtaining a higher grade after taking a final examination for both undergraduates and graduates were statistically insignificant. However, the participation rate for taking the final examination between undergraduates and graduates was statistically different.