It happens a lot for various reasons. Admissions people aren't that good at their jobs, good ol' boy networks, outright cheating on standardized tests (this is

It happens a lot for various reasons. Admissions people aren't that good at their jobs, good ol' boy networks, outright cheating on standardized tests (this is a huge problem in Asia), and more than a few "dumb smart kids". Overall, good B schools (well beyond the "top 5", which I'm pretty sure consists of at least 10 schools) are full of pretty sharp folks. Some even brilliant. But quite a few dullards as well make it through the process.