I would love it if companies hired people like colleges select students.
I'm very good at interviews, but I still hate doing them. If would love it if I could write an essay and send them my SAT scores without going through that awful process.
It would probably also weed out people who are just inordinately good at interviews.
I don't overtly try to exaggerate, but a few times I've been offered a job where I thought in the back of the mind that I might not really be qualified. To wit, I thought my interview skills, not my coding skills got me the offer.