Write such a test. Give it to all the engineers whose work you know well, and see if it can accurately predict what they brought to your team. I would be very surprised if you could both spot good talent and dead weights reliably.
The downside is some people have barely scraped by in the interview and turned out to be absolute rockstars and day 1, and some people have aced the process and driven everyone else mad with incompetence. So it could be improved.
And maybe that's just on us not writing the perfect questions yet, but a bigger problem is that once we've used a question enough someone will post it online and suddenly a suspicious number of candidates are able to show up and rattle off all 3 optimal solutions in 15 minutes. Weird! I suspect a standardized test approach to software engineers would get this problem even worse.
This system wouldn't replace the personality interviews, etc., but only measure technical abilities.
If I go by mainstream, then I guess it would contain some coding task, where you might have to solve algorithm stuff, that you will probably never encounter on the job, or some fake OOP "everything is a class" or "I must use [hot web framework of the month] for trivial things" kind of thing. None of that really tells much about a devs true skill.
I think the problem might be, that jobs are so divers as developer. For some jobs maybe the hot web framework of the month is really all you need to know, while other jobs might require you to think about how a system needs to be redesigned to run on some kind of multi server environment.
I guess there could be multiple such tests, for each area of expertise one. It would for sure be a lot of work to put them together. One would also need rotating problem sets or questions.
Also: Who is going to create these tests? I hope the idea is not big tech or some kind of government participation. Big tech would quickly make it a filter for only themselves, making their tech stacks assumed knowledge in the tests, and government would probably come up with something hopelessly backward like testing your Cobol skills or demanding you write an HTML 4 website, while you have gotten used to more semantic HTML 5 years ago.
I think it is a nice idea, but there are many questions about how it could be usefully implemented.
This is how language certification works (think TOEFL, IELTS), and that industry still suffers from a massive amount of fraud. If you make a certificate like this too expensive, it serves as a barrier for entry for candidates. If you make it too cheap, the people administering the test will start pushing through candidates as quickly as possible without any regard for academic honesty.
There should be some kind of test that would be recognized by the industry, that you could attempt once every six months for example, and that would positively assess your ability to code. You would get a score that you could show to recruiters (if you wished to). Some recruiters would accept only 95/100, others 90/100, etc. There could be language assessments as well.
I don't understand why this doesn't exist. Or maybe it does exist and is simply ignored? What would it take for companies to trust such a system?