What is the average in a class if student scores 74 87 68 63 76 on last five exams and teacher will drop lowest grade to compute average?

1. Find the lowest score: The lowest score is 63.

2. Remove the lowest score: Remove the 63 from the list.

3. Calculate the average of the remaining scores: The remaining scores are 74, 87, 68, and 76. Add them together: 74 + 87 + 68 + 76 = 305. Then divide by the number of scores (4): 305 / 4 = 76.25

The average of the four highest exam scores is $\boxed{76.25}$.