The Fallacy of Hard Tests
Al Feldzamen writes in with a blog post on the fallacious math behind many specialist examinations. "'The test was very hard,' the medical specialist said. 'Only 35 percent passed.' 'How did they grade it?' I asked. 'Multiple choice,' he said. 'They count the number right.' As a former mathematician, I immediately knew the test results were meaningless. It was typical of the very hard test, like bar exams or medical license exams, where very often the well-qualified and knowledgeable fail the exam. But that's because the exam itself is a fraud."
His argument is that the harder the test the less relevant knowledge of the actual answers to the questions posed on the test are to determining your relative score. As a result, on a very hard test, two test takers with vastly different levels of knowledge of the correct answers to the test questions do not on average end up with scores that reflect that difference.
The "educated guess" does not contradict that argument. Again, the harder the test then the smaller the difference between the number of potentially correct answers you can eliminate versus the number that he can eliminate will be. With a sufficiently hard test, "educated guessing" makes no difference whatsoever.
So basically with a multiple choice, count only the correct answers test, increasing the difficulty is not an effective means of increasing the likelihood of the test to accurately filter out candidates with lesser knowledge of the subject matter covered by the test. Increasing the difficulty only increases the degree to which randomness has an impact on the results.
This is true, well known, and not very controversial. However, you would of course need to examine the specific tests in question to determine whether they are effective. They may have other features to help mitigate this effect. Also, his analysis is purely mathematical. It doesn't take into account the likelihood of a challenging test to create social pressure that influences people to self-filter. It could be argued that most of these tests are not testing the takers knowledge of the material so much as they are testing the takers ability to study and react to the pressure that the tests provide.
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Did you actually read the article? His whole point was that the multi-choice test is invalid because it is too hard.