This work aims to understand how effective the typical admissions criteria used in physics are at identifying students who will complete the PhD. Through a multivariate statistical analysis of a sample that includes roughly one in eight students who entered physics PhD programs from 2000-2010, we find that the traditional admissions metrics of undergraduate GPA and the Graduate Records Examination (GRE) Quantitative, Verbal, and Physics Subject Tests do not predict completion in US physics graduate programs with the efficacy often assumed by admissions committees. We find only undergraduate GPA to have a statistically significant association with physics PhD completion across all models studied. In no model did GRE Physics or GRE Verbal predict PhD completion. GRE Quantitative scores had statistically significant relationships with PhD completion in two of four models studied. However, in practice, probability of completing the PhD changed by less than 10 percentage points for students scoring in the 10 ^th vs 90 ^th percentile of US test takers that were physics majors. Noting the significant race, gender, and citizenship gaps in GRE scores, these findings indicate that the heavy reliance on these test scores within typical PhD admissions process is a deterrent to increasing access, diversity, and equity in physics. Misuse of GRE scores selects against already-underrepresented groups and US citizens with tools that fail to meaningfully predict PhD completion. This is a draft; see the journal for the published version. Additionally included in blue text are several responses to queries about this work.