Formative assessment--assessment intended to enhance teaching and learning--is an indispensable part of a teacher's tools. As opposed to summative assessment, formative assessment is carried out periodically through the course to get an insight into the students' understanding of the content. Formative assessment is tacit, but planned formative assessments help the teacher and the learner better in their objectives. This article presents the use of a game show format--Who Wants To Be A Millionaire--in a postgraduate chemistry classroom for a formative assessment that was both fun and engaging. The article is an attempt to disseminate a good practice in chemistry education to a wider audience to be adopted as deemed fit.