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I live in a high SES district where the average test scores are at about the 75th percentile. If you assume a normal distribution, this would mean, based on test scores alone, about 25% of the students would qualify for a GT program that has a cutoff at the 90th percentile (which is not uncommon). Add in other ways to get in--teacher recommendations that value conscientiousness and executive function, for example--and you could easily get to 40%. If the average IQ were 115, almost 40% of the students would qualify on test scores.

You may find these resources of interest: in a recent meta-analysis of correlations between a few versions of CogAT and various instruments, r's with intelligence tests were mostly between 0.54 and 0.79, with the highest average values (0.84) in technical manuals (data and analysis generated by the publisher). Along those lines, another significant finding was that the highest numbers came from studies authoried by the test author. (Original source is behind a paywall, but you can see these numbers in the abstract. Limited free access on researchgate.)
(https://journals.sagepub.com/doi/10.1177/00169862241285593)
(https://www.researchgate.net/public...Validity_of_the_Cognitive_Abilities_Test)

Somewhat outdated in terms of the actual instruments (some have been revised since) and data catchment (obviouslly there's been a decade-plus of research done since then), but still relevant in terms of the discussion, here's a John Wasserman moderately-technical presentation on some influences on the applicability of various tests (including CogAT7) in gifted identification, including the intent to measure g, as well as validity via special group studies/correlations with gold-standard instruments. Note there are no WISC-IV comparison numbers for the CogAT7 specifically in the gifted population.
(https://johndwasserman.com/index_ht...earners%20SMU%20Presentation%20Final.pdf)

Has a professional calculated it? I would like to know how it compares to that of the WISC-V. I don't trust the cognitivetesting subreddit's value of .92 as it was calculated by amateurs. The CogAT authors said that it isn't an IQ test so the .92 g-loading claim is most likely inaccurate.