And I don't like the excuse of "It's been awhile. I've been out of school for YEARS but some things you just don't forget. The fact that he couldn't answer a single one dumbfounds me; this isn't the CEO of a tire company, this is a person in a position to set educational curriculum. They need to be held responsible for not knowing anything about their "business", just as one -should- be held accountable if one ran a computer company without having any idea how they worked (which, unfortunately, is also probably much more common than it should be).
What really gets me is that these are math questions. Not English or Science. Management is business and business is money; if you have no real mathematical education and cannot even answer word problems, people should be SCARED that you are in a position of monetary control; that, even WITH a calculator, you cannot figure out what your company may or may not be bringing in or shelling out.
Then again, there's always the possibility he simply failed the test on purpose in order to push his agenda. Which apparently involves making himself look incompetent and mildly retarded, but, hey, if it gets the test changed in the way he wants, more power to him for gaming the system in an absolutely disgusting manner.