Jinka University, like many higher education institutions in Ethiopia, faces challenges with exit exam passing rates. This study aimed to identify key challenges and determinants affecting student success in exit exams at Jinka University, South Ethiopia. Both primary and secondary data sources were used. Primary data were gathered through focus group discussions, while secondary data came from the University Registrar Directorate. Data analysis was performed using SPSS version 29, using descriptive statistics and inferential methods, including Pearson’s chi-square tests and binary logistic regression. The findings revealed several challenges impacting exam success, such as limited tutorials, inadequate campus facilities, teaching-learning gaps, blueprint relevance issues, students' academic backgrounds, and psychological readiness. Multivariable logistic regression showed that gender, cumulative grade point average, and field of study were significantly associated with passing rates. Addressing these challenges requires strengthening academic support systems, improving the alignment of departmental placements with student preferences, and ensuring equitable access to learning resources, especially for vulnerable groups.