You can have infinitely high scores if you use log odds though: http://lesswrong.com/lw/mp/0_and_1_are_not_probabilities/
But that can only happen if you get every question 100% right. Whereas getting a single question 100% wrong is easy to do.
Whereas logarithms make multiplication just addition, and they get small very very slowly.
Personally I prefer geometric mean. Which is equivalent to the average log likelihood. It has an upper bound at 1 and lower bound at 0, and represents the "average" probability you assigned the correct answer.
A potential answer is: this asymmetry is similar to incentives outside the classroom. Claiming 100% certainty and being wrong can be disastrous to your reputation, and likely much more negative than the positive benefits of claiming 100% certainty and being correct.
You could make an arbitrary scoring metric that does whatever you want. But it wouldn't be principled, or have nice mathematical properties like this.