Right, so everyone says that. I probably took the most academic classes possible (like the 9-credit chumash class…) and I had VERY little work. My Machon Raaya friends had much more. We just had the good learning. I was almost unique in that I had four classes with more than one test per semester, or even per year. Most classes are either midterm-final, final only, or final-project only. If you pick your classes right, you’re essentially on vacation. (I picked my classes right and learned an insane amount, even if I did work a little, so it’s what you make of it 🙂 .)
There’s a weekly parsha quiz, a term paper (which I’ve heard they’ve gotten rid of!) and a yedios klalios test. Much less than my friends at BY seminaries. Compared to my friends at MO seminaries who had literally no work, though, we were working our heads off.
I think the reputation may come because they have reasonably high standards for admission, not because the school itself is hard.