I don't buy the argument that test scores have no bearing on how well you do in school. Yeah, there's people who don't do well on tests but still do well in school. Hell, I'm friends with one of them. Problem is that those people are the exception to the rule, not the rule itself.
Tests (and school, a fair amount of the time) generally have no bearing on how intelligent someone might be. At least 50% of the time, schools and universities just ask you to jump through hoops that have no bearing on real life, and so the people that do well in school aren't necessarily the smartest people - they're just the people most willing to jump through hoops.
What do ACT vocabulary requirements have to do with anything in the real world unless you're trying to be the next Mark Twain, or trying to be a crossword puzzle superstar?
Seriously, at least half the stuff on the ACT was completely irrelevant to my coursework in college, and probably at least half of my coursework in college was completely irrelevant to what I was actually preparing to do in the real world.