I concede this is more “philosophical” than your post intended, but what does the word smart or intelligent mean? Ok, you can say GMAT and be done with it, but what are we signifying with our answer? What is a smart person? What can they do that others cant? What could they potentially do that others couldnt? These are typically unanswered questions, and we use the term “smart” in only a vague sense, perhaps differently from person to person.
In order to be a person who has impact in their professional life, an important quality is a wide knowledge base. A wide knowledge of both known (domain specific) facts, and broad personal experience in that domain. This could be “smart”.
The ability to quickly learn new material and achieve high test scores is a different quality. This quality can also be (and usually is) present in certain domains (like math) but not others (social sciences), such that the quality is not a generalized one. The high test scoring is often what is impressive enough to warrant assertions of intelligence. This could be “smart”.
A third quality that is very important to success is interpersonal and social skills. Arguably this is the most important quality in achieving what is generally considered as success. This could be “smart”.
Now, all these things are usually conflated into the one quality - smartness/intelligence, simply by extension. He/she has a high position, wealth, therefore they must be “smart”. If smart is used as a synonym for successful (in the ordinary sense of that word), then that is correct. It is simply a label being used to describe an outward state.
(Of course, some people are labeled smart simply because they can perform some coginitive “tricks” at greater than average ability/speed. Handily calculating odds in poker would doubtlessly warrant a label of smart in many cases.)
But few people are “smart” in the sense of grasping some fundamental truths of our existence and of our peculiar behaviour, and I would argue that this is the sense of the word “smart” that is both rare and meaningful (since we, as a society, attach significance to the idea of “intelligence” only because we implicitly assume it is quite rare). The vast majority of “smart” people are only capable of unthinklingly regurgitating accepted mantras and theorems, doubtlessly with an impressive ability to do so, perhaps performing some cognitive tricks, but with no desire (or ability) to independently explore the building blocks of our knowledge and beliefs.
I mean, in the end, if you side with Derrida, language itself is fundamentally flawed and we’re all usually talking about different things.