The time allotted for the Lab Exam is six hours. This includes time for introductory pre-exam steps, scheduled breaks, and any delays experienced during the exam that may occur as a result of using virtual machines.
There is no information available on how the exam is scored.
The waiting period to receive the Lab Exam score (pass/fail) from the test provider is up to 30 business days (approximately six weeks).
More information can be found here
http://www.microsoft.com/learning/en/us/certification/master-sql-path.aspx
Jeff Wharton
MSysDev (C.Sturt), MDbDsgnMgt (C.Sturt), MCT, MCPD, MCITP, MCDBA
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