While the 95% claim might be somewhat accurate, I would not trust any studies by Aspiring Minds, which conducts the AMCAT employability test. My college's training and placement department recently forced everyone to answer it ("for practice"), and the quality of the questions was surprisingly poor, from English questions that were grammatically incorrect themselves, to computer science questions with all options incorrect and the worst: computer programming questions about obscure C# APIs (along the lines of "what are the parameters and the return type"), a language which pretty much no one answering the exam has ever learnt.
It's also almost exclusively used by the kind of third-grade mass-recruiting consulting companies that have given Indian developers a bad name. Which is not a surprise, since colleges (including mine) have picked up on this, and now specifically train students for such exams. Even for technical roles (supposedly, although I think spamming StackOverflow hardly qualifies), the online test rarely contains a computer science / computer programming component, and new recruits are commonly expected to undergo year-long training at their own expense even after being hired.
My dislike for Aspiring Minds is hard to put into words. It's strong enough that I would refuse to work for a company that uses them, out of fear of the unchecked incompetence of my future coworkers.