Bloomberg.com reports that the California Supreme Court has temporarily reauthorized the exit test for high school seniors, a decision that jeopardizes the graduation of 47,000 students next month. The exit exam had been declared unconstitutional by a lower court because it denied students the equal opportunity to graduate. The California Supreme Court sent the decision to an appeals court for further argument, and in the interim, the requirement is reinstated. The test is designed to ensure that high school graduates meet minimum performance requirements in reading, writing, and mathematics. Now that the test is reinstated, those 47,000 students who have failed the exit exam may not be able to graduate on time…