'final-exam-based' is a compound of three elements: 'final', 'exam', and 'based'. 'final' originates from Latin, specifically the word 'finalis', where the root 'fin-' meant 'end'; 'exam' originates from Latin, specifically the word 'examen', where 'examen' meant 'a weighing, an examination'; 'based' comes via Old French 'base' from Latin/Greek 'basis', where 'basis' meant 'foundation'.

'final' changed from Latin 'finalis' into Old French and then Middle English before becoming modern English 'final'. 'exam' came from Latin 'examen' and entered English through Old French and later shortened to 'exam'. 'base' developed from Late Latin/Old French 'base' (from Greek 'basis') and produced the past-participle adjective form 'based' in English.

Initially the parts meant 'end' (final), 'weighing/examination' (examen), and 'foundation' (basis). Over time the compound phrase evolved to mean 'having its basis in the final examination'—i.e., an assessment or judgement principally determined by final exams.