Yes. 随堂测试 is less formal, usually a quiz, or small test after the teaching session, compare other tests/exams:
期中考试 mid-term exam
高考 National College Entrance Examination
性格测试 personality test
...
In my college years, our English teacher would say let's have a quiz today. Here the word quiz is just like 随堂测试. It is a small test which the teacher gives to the students for seeing how they acquire the knowlege taught by the teacher.