I think what I'm looking for is someone who understands the technical side of a team and org enough (perhaps through support of a tech lead) to set expectations and goals for the individuals they manage (and likely hired).
If the manager doesn't understand the business and technical needs enough to be able to set those items with an engineer, I'm not sure what that they are really enabling team members to have a good bar for what they will be evaluated on, and I think that is a sub-optimal environment for people (not just engineers) to work in.
My ultimate sentiment here is: would you want to take a test where you didn't have a good idea about how it was graded?