The main thing that frustrated me about the SAT, at least when I took it, was that it essentially boiled down to an IQ test, not a true "scholastic aptitude" test. I did barely any prep (aside from, I think, a flip calendar with questions), but I scored 1510 out of 1600 at the time which qualified me for a prestigious program in my university.

Then I narrowly avoided flunking out because I'd never actually learned to study or manage my time properly in high school because I'd never needed to until college. Study skills and time management seem like pretty important factors in a true measure of scholastic aptitude.