I think US college exam systems are horribly flawed.
For one, why are they run by a private non-profit rather than the government?
They're also clearly not difficult enough, when at elite universities it's more a qualification than a determinant. In other nations, they're hard enough that the bell curve doesn't clip at the end.
The tests should be free, or at least free for, say, 2 tests per year per student. They should be harder. And they shouldn't be held in the hands of a third party.