It seems reasonable to me. Certainly, even if you don't get all of the questions correctly, this exam tells you more about the proficiency of a candidate than a

It seems reasonable to me. Certainly, even if you don't get all of the questions correctly, this exam tells you more about the proficiency of a candidate than a standard graduate school exam like the GRE (in the US) does. Especially if a student can explain some reasoning for incomplete problems.