At first glance it looks more like a Swiss banknote than a Chilean one, however it is from Chile. I wonder what was the purpose of this specimen banknote?
SICPA, the Swiss ink supplier may have also designed the test note. I don't know if Casa de Moneda de Chile produces 3rd party bank notes or not. Arjo Wiggins & SICPA supply paper & ink respectively to many Central Banks. Best guess is this test note is used as most modern test notes are - advertising to tout their products to new & existing customers.