This paper presents the results of a Classroom Action Research (CAR) on the use of Nearpod, an online platform that facilitates the use of interactive teaching material using mobile devices, to conduct a formative assessment in the classroom. There are two aims of this study. First, exploring the effectiveness of using Nearpod to conduct in-class Multiple-Choice Question (MCQ) quizzes in an introductory undergraduate financial accounting class. Second, exploring its influence on the teaching and learning experiences at one of the top private universities in Egypt. In addition, the research attempted to find out how the instructor's use of Nearpod in the classroom affected students' interest in the subject matter and course material when compared to conventional paper and pen quizzes. Results from students' survey and focus groups indicated that using Nearpod heightened students' interest in the class and positively affected their learning.