Yes, it just has to be bound in some sort. I took my CI exam and scanned it all in, and printed it off as 4 pages/page just to lessen the amount of bulk. Did the same thing with GT Binder. Saved a ton of space.
Also it allowed me to only take the pages that had the problem + solution together. No need to take the pages that only contain the problem and blank work space when you head into the exam. This might be to much work for some people, but it really cuts down the time of looking through the practice test books if you get to that point in the exam.