I am happy to say that we are finally citizens of Ecuador! It's been 23 months since we went to Quito and submitted our application.
We received the notice from Joseph that we would need to fly to Quito on March 31st in order to take the citizenship exam. The exam consists of 30 questions (you can only miss 5), and it covers Ecuadorian history, geography, culture, etc. The test was not easy at all. You must study or you won't pass it and, of course, it's all in Spanish. It consists of multiple choice questions with a few fill-in-the-blanks.
We both passed the test (we each had a different version).
Then, we paid the fee (which increased in 2016). We had previously paid $200 each when we first applied (back in 2014). We thought that we would need to pay the remaining balance of $500 each but it turned out that we had to pay $750 each instead (an increase of $250 per person).