My school has a true pass/fail system during the first 2 years and they take it so seriously that we not only don’t know what we actually made on an exam, but we also don’t know the median score. All we get is a report 2 weeks after an exam that says we passed and another report that says the percentage of the class that passed. Our test are different than most schools though, they are entirely short answer with no multiple choice, so we really have no clue what the rubric looks like from the professors (AKA everyone thinks they bombed the exams because they are so difficult, yet most of us pass).
Even if a school is P/F, better believe someone is keeping track of things somewhere.. they’re always watching. Especially professionalism at my school..