This study investigates the effects of student engagement and rapidity of completing exams on student performance before and during the first wave of COVID-19 in March 2020, examining the effect of the shift from face-to-face to online teaching and exams in a Master's in Business Administration degree at a university in Italy. Prior literature mainly finds that student marks benefit from student engagement, but it has been unclear how COVID-19 affected this link. We find that COVID-19 reduced this benefit in the short term. Prior literature also finds that student performance benefits from passing the exam at the earliest opportunity but the effect of COVID-19-related changes on this remains unclear. We find that the link between higher exam marks and rapidity of completing exams was strengthened by COVID-19. The research contributes to the debate on costs and benefits of COVID-19 on accounting education quality. It confirms that there are disadvantages, in terms of the lower efficacy of student engagement, and advantages, in terms of higher marks from more rapid academic progress.