Hi
No, it is not standard SP functionality that can be brought out but a newly developed application.
SharePointLMS has many features such as a Learning Path, Quizzes, Dropbox, Home Work, Attendance, GradeBooks, Chat, Conference etc etc.
Where applicable it will utilise some of the standard SP functionality, in these cases we have also added functionality, for instance the Document Library with SharePointLMS is able to link files to the courses library reducing the need for administration, i.e. a Teacher can have a single document in their library and link this to multiple courses. We have also created the ability to sort the order of documents, something that is not possible in the standard SP Document Library.
We have also developed Webparts to show Announcements, Calendar Events, Drop Box and Home Work assignments, apart from on the LMS Homepage and course Homepage these can also be used on the 'My Site' pages giving the student a quick overview of what he or she should be doing without visiting the LMS.
Finally it is SCORM 1.2 & 2004 compliant and is also able to import BlackBoard courses.
There is a tutorial you can visit at http://www.sharepointlms.com which will show all the functionality. Alternatively I will be more then happy to give you a demo on it.
Paul