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The only way that collecting old tests could hurt academics in any way is if the profs or TAs give the same test over and over again, year after year. Which, IMHO, should be an "honor code" violation for the faculty, not the students, for sheer laziness.
Even the ETS (that produces the SAT and GRE exams) sell or otherwise distribute old tests as practice exams for people preparing the real thing. It's a good idea in principle.
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