Are technical Interviews useful in your opinion?

No matter how many years of experience in the industry, most of the times I get a live technical test form a third party service it is nothing like what I have been professionally doing during the last 10 years, so I catastrophically fail. They will ask difficult to understand questions, and give you problems you have never ever encountered in your professional life, and give you just 10 minutes per question in an unfamiliar environment (last I tried was Hacker Rank). I feel like this is a very bad way of spotting good potential candidates.
Does any of you have the same feeling, and have you come across any third party technical test services that you considered good?

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