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I've now found information that confirms the parts must be taken in sequence, but the assignment and essay (which should be taken immediately after doing the assignment) should be submitted together. Also, Oracle claims the assignment is graded as pass/fail (rather than the percentage shown at first glance), and that it will take 4 to 6 weeks to get the pass/fail result.
So take the initial multiple choice exam first. Then do assignment. Then do essay. Then submit assignment and essay together. Get pass/fail result in 4 to 6 weeks.
I garnered all of this from http://www.ibt.prometric.com/oracle.
Edited by: Skotty on May 13, 2011 5:14 PM