I think I might have told this story before, but back in high school, I took AP Statistics. When I took the AP test, I was unable to answer 2 out of 6 essay questions. I don't mean "I came up with the wrong answer," I mean, "I was unable to even come up with an answer, even a wrong one."
A few months later, I heard that I got a 5 on AP Stat. Despite a performance on the AP Stat test that I knew, had my AP Stat teacher been the one grading, I would've gotten a C or worse on it.
Ever since that experience, I've had a somewhat leery view of the idea of the AP test as "equivalent to a college entry-level course."