Not all companies require them if you have decent experience. My friend interviewed with several companies and flat out told them "I don't do code tests anymore, my experience should speak for itself." Obviously your milage will vary but he ended up in a good position at a large well known company.

Edit: Also if you have a connection into the company that can vouch for you, that will work as well. The best coding test that can be administered is "yeah I've worked with this guy before and he's a good developer."

As I often say, interviews based on the final year algorithms and datastructures exam are just a way to sneak ageism under the HR radar.

What final year algorithms and data structures exam are you referring to?

Questions like pruning a red-black tree or manipulating a linked list on a whiteboard.

Actually I was more curious about the final year exam itself. Is this required in some schools? I have never heard of such a thing in colleges in the US.

No algorithms and datastructures in CS??