The problem of fault grading for multiple path delay faults is studied and a method of obtaining the exact coverage is presented. The faults covered are represented and manipulated as sets by zero-suppressed binary decision diagrams (ZBDD), which are shown to be able to store a very large number of path delay faults. For the extreme case of memory problem, a method to estimate the coverage of the test set is also presented. The problem of fault grading is solved with a polynomial number of BDD operations. Experimental results on the ISCAS?85 bench-mark include test sets from ATPG tools and specifically designed tests in order to investigate the limitations and properties of the proposed method.