Why is it valuable if you can practice doing those type of tests and then get a good score on the real test? What's the purpose then? I mean if the job is writing code, wouldn't you be interested in finding out if the interviewee can code, instead of checking if the person can figure how a certain geometric form unfolds?
If it can be cheating on, that's the problem of that particular test. IQ itself is still pretty useful for a programmer. Depending on position and career level, possibly more important than current knowledge.