Blimey, that escalated quickly!
@mumsneedwine the chief examiner @goodbyestranger refers to does not set any exams. There are no exams for EPQ.
I will say again what I stated on the 1st page of this thread. It is a valuable qualification for students whose interests or university aspirations do not fit neatly into specific courses. They can frame their question/title to suit either of these. They learn skills such as researching, referencing, cross-checking and extended writing which might not be covered in their A level subjects.
Last year I had 21 students actually submit work out of a group of 29. 20 of those were very good (A/A*). The students had put in a lot of work and produced high quality essays or artefacts. One had done little work and made a Horlicks of the whole thing. This year, from 32 starters, I still have 29 going forward.
Both my DDs did the EPQ. One produced an artefact which came up in her interview at Cambridge. It didn't seem to do her much harm as she was offered a place. The other used it to tie together her passions of science and politics. The older DD found literature reviews, a part of the Cambridge NatSci course, a natural progression from EPQ and, as a result, she had an academic paper to her name before she graduated. She told me that the EPQ was excellent preparation for this.
At the end of the day, it is personal choice whether or not to do it. All I will say is that it provides an excellent opportunity to utilise skills that will be needed at undergraduate level and beyond, but in a way that enables guidance and support to be given. If you don't want to do it, fine.