Some which have caps may allow all to give subject credit and/or advanced placement. An example is Dartmouth, where AP/IB/A-level credit toward the number of credits for graduation is capped at zero, but specific scores and exams may get subject credit and/or advanced placement.
https://www.dartmouth.edu/~reg/enrollment/types_credits.html
https://www.dartmouth.edu/~reg/enrollment/credit_on_entrance_exemption_charts.html
In a few cases, an AP test can be known to be worthless based on the student’s major. For example, a student who will be an engineering major knows that AP physics 1, physics 2, and statistics will be worthless, because any course requirements in those areas for engineering majors will be calculus-based. But many students are not so sure of their college majors at the beginning of 12th grade.
If the student already has a well defined college list, s/he can check each college’s AP policy to see which possible AP exams s/he may take have value at all, value at some, or value at none. But not every student has a well defined college list that early.