Funny you should say that because they do have standardized tests. Any of three certifications qualifies you. The other non-financial individual qualification

Funny you should say that because they do have standardized tests. Any of three certifications qualifies you. The other non-financial individual qualification is also objective. Are you a certain type of employee of an investment firm? If so you can invest in that firm. None of this is subjective. If this were about whether you can absorb losses, then it would limit the investment amount based on your financial capacity, like the JOBS Act does. There's nothing stopping a millionaire from throwing too much of their savings into questionable investments, and plenty of millionaires have gone broke doing exactly that. They probably would have been better off if they had to pass those standardized tests first, like us po' folks are able to do now.