The first 120 exams only dropped the scrolls that were listed so I find that unlikely. You are right though, it is a possibility which is why I made my post in General to try and gather more information from other users.

I had posted again today with a screenshot showing another Scroll of Sages coming from exam 120 and now it's randomly locked by another moderator.

http://forum.naruto.oasgames.com/en/forum.php?mod=viewthread&tid=19942

Not sure why it was locked as like I said, I was simply trying to gather more information. I would understand if they had some clarification or statement about the situation, but to simply close it seems kinda odd.