In the swiftly evolving landscape of education, the fusion of Artificial Intelligence's ingenuity with the dynamic capabilities of chat-bot technology has ignited a transformative paradigm shift. This convergence is not merely a technological integration but a profound reshaping of the fundamental principles of pedagogy, fundamentally redefining the very essence of learning experiences. Hence, the current study tries to validate technology readiness and acceptance model (TRAM) through utilizing Chat-GPT (3.5) for designing MCQs by Universities academicians. For this purpose, data was collected from public and private sector universities in KP and Islamabad region of Pakistan. Data was analyzed through SEM via Smart PLS. Findings reveals that innovativeness and optimism are positively and significantly associated to perceived ease of use (PEOU) as well as perceived usefulness (PUSF) of Chat-GPT (3.5) for designing MCQs for university students. While Discomfort shows insignificant, relation with both PEOU and PUSE attributes of technology acceptance model. Results further indicate that both PEOU and PUSE leads to promote attitude of using Chat-GPT (3.5) among faculty members of public and private sector universities in Pakistan. Positive attitude of faculty member enhances behavioral intention to frequently use Chat-GPT (3.5) for designing MCQs among management science faculty members.