I was curious so I went and took a few security guard practice tests online. The worst score I got was an 85%. They're mostly basic questions about taking notes, placing people under a citizen's arrest, when it's appropriate to unholster a weapon, whether or not you should impersonate a cop, or fire extinguisher use. I genuinely think the only way to fail is if you're answering blatantly wrong questions like "shoot him in the face" or "scream at any teenager that approaching on your side of the street is a felony" or "tell them that you're a police officer and will arrest them" or "throw the fire extinguisher into the fire."
Where i live you have to get a certification for nonviolent de-escalation of conflict it's honestly one of the easiest tests I've ever taken as an adult
I googled it but I got nowhere. Assuming the post is true - I bet the CEO tried to join some private security firm and he failed their test over and over.
I'm the US at least, the license is referred to as a "guard card" and is issued by state governments. It's the bare minimum requirement to work as a bouncer or security guard because it empowers the holder to forcibly detain someone to either remove them from a property or hold them until police arrive. Without the license a bouncer or security guard runs the very real risk of facing kidnapping charges should they detain someone or try to forcibly remove them from an area.