test paper vs examination

test paper and examination both are nouns.

Word	Noun	Adjective	Verb	Adverb
test paper	Yes	No	No	No
examination	Yes	No	No	No

As nouns, examination is a hypernym of test paper; that is, examination is a word with a broader meaning than test paper:

Other hypernyms of test paper include exam, test.

test paper (noun)	examination (noun)
paper impregnated with an indicator for use in chemical tests	the act of examining something closely (as for mistakes)
a written examination	the act of giving students or candidates a test (as by questions) to determine what they know or have learned
	a detailed inspection of your conscience (as done daily by Jesuits)
	a set of questions or exercises evaluating skill or knowledge
	formal systematic questioning