First, let me say I am opposed to moderators acting like a single entity. After all, we're all different people from different parts of the world, and we have different opinions on matters. I do not think it is unfortunate for the mod team to have different view points. For example, some of us prefer to be more active, other prefer to be more laid back and let the community act. Some think the community should decide whether a question is to be closed, and some prefer to close them (unilaterally -- shiver?). As a consequence, I oppose to the idea that the mod team should make "a universal decision on what the course of action is going to be on posts that are obviously questionable."
It seems to me you're too obsessed with pursuing questions that look like assignments or exams. How do you know this was not a user copying a take home exam from 2005, say? My university has open access to previous exams, and take home exams, too. It is unfortunate the OP didn't provide any more information, but I don't think it is a moderators duty to be on the hunt for potential threats to academic honesty (I didn't happen to decline your flag, however.) Some other moderators might agree with this, too. Sure, I look at those posts with a critic eye, and do not condone academic dishonesty at all, but as I have said before, I don't think it is my duty to pursue people that engage in such practice. If they do so, well shame on them. I have no desire to spend an evening playing detective.
So far, it seems I am diametrically opposed to your views. Let's try to even things out: if you see a post that is questionable, you can always downvote and leave a comment explaining the issue, so that the OP is aware that part of the community is expecting people to give sources of their problems. Don't underestimate your power as a user to make a change. Good practices usually stay, and it is up to users to make the trend catch up. It is the users that answer questions (we mods are just a tiny portion!), so if a decent volume of users agree not to answer and/or close questions that are (well!) questionable things will work better. Then again, cheaters will find their way. If the OP is half clever, the post will be not an image of a graded assignment, and probably more of a question in the lines of "I've been stuck with this problem for days. I know I have to use theorem X, and a friend suggested I try Y, but nothing is working." that makes us think the OP is a nice hard working chap. Sadly, it is very hard for anyone to try to fight internet academic dishonesty.
As a bonus, let me add this thread on StackOverflow. You can click on the link for further discussion, but let me quote the answer to the question How to deal if the user asks for code in online programming competition?
If you ignored the fact that these were questions from a programming competition, are they still good, on topic technical questions? If so, I have no problem with them remaining on the site. This is similar to homework questions, where the fact that something is homework is secondary to whether or not they are actually good questions.
Do not flag questions because they are part of an ongoing competition, a homework assignment, or they somehow violate someone's honor code.
It is not up to moderators to enforce the terms and conditions of another site, and we will decline these flags (as I have for these questions).
You may choose to comment and point out the source of the question, decide to refrain from answering, or choose to answer differently than you would if this wasn't a competition question. That's up to you.