If you are an IT major, I think you should take the exam.
You should also think about doing some free programming.
Join a couple of open source projects and get some practical experience.
In todays job market it is hard to get a job out of college.
The open source project would give you experience.
The experience translates into a higher salary.
You should definately create a couple of web sites that can showcase your experience with web programming.
A few web sites that have your name on them are a good business card. The employer can just pull up your web site to see what you have done.