A growing number of postsecondary institutions in the United States have removed standardized testing as a requirement for admission. Researchers, however, have suggested that these "test-optional" policies may not benefit underrepresented populations as intended, but instead serve as an additional revenue source for the institution. In this study, we utilize a synthetic control method to extend this research by considering whether a more nuanced "test-flexible" policy, which allows qualifying students to decide whether to submit test scores instead of an institution-wide policy, influences student enrollment demographics at a public university.