I went in for an interview, which was held in an open room with about four people. They explained what they were looking for an asked me about my background and ability to work under deadlines, which I've done for my entire career.
I brought in portfolio pieces that were not on my web site so they could see the fashion specific work I've done.
Then they gave me a "test" which consisted of downloading graphic resources and creating several banner graphics.
They said this task took their previous designer an entire workday.
First, that's a lot of work to expect an interviewee to do "on spec" as it were.
Next, they did not offer any feedback along the way, as would happen in the actual work situation. If they ask you to do actual work, it would be logical if they'd want to see how you'd perform it in context.
Finally, they they were very unresponsive after receiving the work. (I know was fine, because I first sent it to other professional designers for a second opinion).
If a company assigns work on spec, the least they can do is offer you comments in return.