Yes, SAT and ACT tests prepare students for college and the world, because students have to learn how to work under pressure. In the real world, they will be evaluated based on their abilities. They need to learn how to perform when the lights are on sooner rather than later. It is a life skill.
The SAT and ACT are nothing more than tools to help determine the courses that incoming High School students would take in College. This only checks their understanding on all of the subjects. Its a shame that the new SAT is now easier; especially on writing, students need to learn how to write.
SAT and ACT tests do not prepare students for College and the world. I think that these tests are just a recap of everything that you should have learned going through school. Most colleges use these tests to accept students and place them where they think that they need to be.
The SAT and ACT are simply meant to test the ability of a student to study properly and commit enough effort to take a test for hours. The content of the tests generally applies to situations the students may encounter in college or the real world, but by no means prepares them to handle those situations. Work experience teaches much more than you can learn from taking a written test.
I do not believe the SAT and the ACT tests prepare students for college, nor do they prepare a person for the real world. These are just tests, they aren't meant to prepare anyone for anything. They are a measuring device to see where a student is before entering college. Those that don't plan to attend college shouldn't even bother taking these tests.