How much do tests actually matter for internships?

Hi, I’m a finance student who applied for a fund operations internship at a company which supports startups recently. As part of the application process there was some test we had to do (can’t even remember what it was because it’s been so long).

Today, I’ve just received an email stating that “Unfortunately, your score was not high enough for you to proceed to the next stage.”

I find this really strange because my experience and resume is extremely relevant to the role, and I get told that I’m personable. With my resume, I’ve generally at least gotten an interview in the past. I’m also willing to work really hard so even if I’m not “smart enough” with tests per se, that makes up for it. Do all companies really judge someone based off their “intelligence”, because I believe that I am intelligent, but struggle to show it in situations like that. How valid is a metric like that?

Moreover, if all the firms care so much about those sorts of tests, should I be doing some extra prep to do better in them? Kind of discouraging tbh and makes me contemplate whether I even want to do finance because I have the skills and experience, but they won’t even give me a chance because I didn’t do well in some test???