Yep. All of the FAA written test are drawn from a bank of questions. The ATP is a 100 question multiple choice test, and the questions are drawn from a bank of 1,000. I know of many who memorized the entire bank.
We did have some enterprising young Greek students, who came up with a unique solution. They were allowed to bring a Greek-English dictionary into the test. They would correlate the page numbers to the question bank numbers, and place a dot (1 in each page corner) for the correct answer (A-1 dot, B-2 dots, etc). Needless to say, when the school reported this to the FAA (too many perfect scores), those students were stripped of their certificates and had to start over. Most gave up.
R_Strowe