For those under the misapprehension that recruiters actually sit down and wade throught the hundreds of CVs they get each month, when you actually reach your first job, pop along to HR or the CP's office and watch how it's done.
When a vacancy comes up, hand reaches out, removes wad of CVs from top of 6 inch high pile, starts to contact as many as required for interview session. No contact first time, CV binned or returned to pile.
There may be some random screening, but your ATPL theory results are way down the list of what is important. Even those airlines who have a more structured recruitment process, and use outside agencies for screening, or have a large and unwieldy HR department (like BA), rarely ask for your results in their application forms. At one time or another, I think I've probably applied to all UK based recruiters, and I can only recall once ever having to list all my theory passes.
Reach your own conclusions.