… is there any learning resource on how to set-up Online Test or Quiz on Moodle?
There is a lot of help within Moodle for using quizzes.
When you start to set up a quiz, you would turn the editing on and then from the Add an activity or resource option, click quiz. When you've clicked quiz, you'll see a list of useful information about the quiz activity. At the bottom of that list you'll see an information link that says more help. When you click this you go through to Moodle documents. This will automatically take you to the correct version of Moodle documents which is now 2.5 at Coventry University. Here you will find some information about how to set up a quiz in Moodle. Here's the link anyway:
http://docs.moodle.org/25/en/mod/quiz/view
Gavin Henrick provides a useful introduction to Moodle quiz in his presentation on Slideshare. Note that some of the later slides show some hints and tips for the settings.
http://www.slideshare.net/ghenrick/moodle-quiz-presentation
In addition to that information, you will find several useful YouTube videos. Here are two examples:
The quiz activity by Moodle is actually part of the Learn Moodle 2013 series using Moodle 2.5 and it was recorded by Mary Cooch, who is known as Moodle fairy. It talks you through different types of questions and again is a great introduction to the quiz:
http://www.youtube.com/watch?v=kziLSNK4MzQ
Creating a quiz in Moodle 2.5 by Japan Eric is very useful because it talks you through a lot of the settings:
http://www.youtube.com/watch?v=_h1Gzm7Rh44