Let's take a calc 2 example. I ask students to integrate ln(x). I want to know if they can do integration by parts when one function is 1. Some of them can memorize the answer and just write it down. I don't give them credit for this. I'm giving an easy problem because I just want to know if they know how to do parts with 1 as one of the functions. I don't want to load the test with hard problems so that I can eliminate any possibility of memorization at play.
It's interesting reading all the replies I've gotten. It's nice to see other peoples' perspectives. Including yours.
As you stated I would not give x^3=27 as a problem in college algebra. It's a fine line and I suspect that we mostly agree except on one part.
As a grader I've given full credit for the wrong answer and no credit for the right answer.