GMAT Overview: What You Should Know?
GMAT is the short form of Graduate Management Admission Test, which is conducted for the admission to business management schools. This computer-based examination is globally accepted for admission to MBA programs in prestigious institutes. This test offers multiple choices for answers of questions on Arithmetic, Geometry, Algebra, data analysis, and English grammar. The GMAT exams are taken to check the ability of quick thinking and solving problems in an aspirant for MBA course.
It is the best way of testing the critical analyzing skills of a person who wants to study business management in the postgraduate level, for developing a bright career in this field. Hence, examinees need to achieve a high score to be able to get admission to a business school of their choice. While SAT examination is conducted for granting admission in colleges after the school level; GMAT is the gateway to the postgraduate level in the stream of business management.
Why should you choose GMAT and its Importance?
GMAT is considered as a vital step towards a brilliant career in the corporate world. The score achieved in this standardized examination is accepted in most of the business management schools across the world. There are several reasons why one should opt for writing this computer-adaptive examination, judging from its advantages in the career field.
- Aspirants can reappear for GMAT exams up to 5 times in 1 year. Thus, they should not be too depressed even if they cannot crack this examination on the first chance. They can always get time for improving their skills and score higher marks for passing this test. Moreover, they can have the flexibility of setting the examination dates according to their convenience.
- This test is adaptive according to the ability of the examinee, as the difficulty level increases only if he/she can answer the previous questions correctly. Likewise, questions may seem to be easier when the examinee fails to provide correct answers of previous questions in a section. Moreover, the question patterns are continuously upgraded to suit the merit levels of average candidates, who want to study MBA from reputed management schools.
- The successful score of a GMAT examination is valid for 5 years in any business management school. So students do not need to seek admission in management schools immediately after getting their GMAT results. So they get enough time to choose the institute in India or abroad, as per their choice.
- There are numerous testing centers for GMAT in various countries of the world. Thus, examinees can appear in any center that is nearest to their locations.
What are the Eligibility criteria for GMAT?
- The examinee must be above 18 years of age and there is no upper age limit for appearing in GMAT test. However, younger students in the age group of 13 – 17 years need written permissions from their parents or legal guardians to apply for this examination.
- Though there is no educational qualification officially asked for appearing in GMAT, a person needs to be a graduate for studying MBA after scoring high in this test. Hence, it is assumed that graduation from any educational stream can be counted among GMAT eligibility criteria.
How is the cost or fees for GMAT?
Normally, the fee for GMAT is $250, which may vary according to the choice of test centers. If a candidate wants to change the location of examination centre, an extra charge of $50 should be paid. However, the GMAT fees will be more if a candidate wants to reschedule the examination date more than 7 days ahead of the originally scheduled date, for which $60 extra will be charged. However, no extra fee is needed for rescheduling the test date within 7 days of the earlier chosen date. If the scheduled GMAT exam is cancelled before 7 days of the scheduled date, approximately $80 may be refunded from the paid examination fee. If the examination is cancelled by the candidate less than 7 days before the scheduled date, no refund of the money is available. This test cannot be rescheduled or cancelled less than 24 hours before the chosen exam schedule.
What is the Exam pattern for GMAT?
GMAT is designed as a computer adaptive examination, the main aim of which is to check the reasoning ability of examinees. There are 4 categories in GMAT, all of which should be attempted within the given time limit. Totally, 91 questions need to be answered for this examination and examinees can attempt these categories in various orders, as per their convenience. Presently, examinees need to answer 31 questions in Quantitative Reasoning in 62 minutes, 36 questions in Verbal Reasoning in 65 minutes, 12 questions in Integrated Reasoning in 30 minutes, and 1 essay on the given topic in Analytical Writing Assessment in 30 minutes. Total time of this computerized examination is 3 hours 7 minutes and conducted at an approved test center only. Quantitative and Verbal Reasoning are the most scoring categories and usually, meritorious students score very high grades here. Only the Analytical Writing Assessment gives subjective question that should be written in approximately 600 words while the rest 3 have all objective questions with multiple answers.
GMAT score required and its validity?
The minimum required score for passing GMAT is 200 and the maximum score that one can obtain in this examination is 800. However, 556 is the average score that can be achieved in this examination, as most examinees get the marks between 400 and 600. The objective questions are marked according to the number of right answers, difficulty level of the question, and the number of questions attempted. The descriptive answer in the Analytical section is marked according to the average scores given by two examiners. The validity of GMAT score is 5 years in most of the universities and business management schools all over the world.
What are different GMAT Scholarships?
Various scholarship programs are available with high GMAT scores in various international universities of foreign countries. GMAT scholarships are more easily available than other MBA scholarships that students apply for.
- Stanford Reliance Dhirubhai Fellowship – This scholarship is awarded for studying MBA in Stanford Graduate School of Business. It is given to 5 Indian students who are willing to return to India after completing MBA. It covers their tuition fees and related expenses for 2 years.
- Horace W. Goldsmith Fellowship – This scholarship is given to 7 – 10 students who want to work in non-profit sector after doing MBA. The amount of $10,000 is given to students in their 1st year of MBA.
- Emerging Economic Fellowships – This scholarship is awarded to students from the background of emerging Economics in Wharton School of Business, for the 2-year MBA course.
There are many other GMAT scholarships offered to MBA students by various reputed business management schools, like Booth School of Business and Haas School of Business.
FAQ’s about GMAT
1) How to register for GMAT?
Students need to enter www.mba.com, which is the official website of GMAT. They need to create an account there, by selecting the preferred date and time for this test and register on the webpage titled ‘The GMAT Exam’.
2) Are same questions given to all examinees?
No, GMAT is a computer adaptive examination where the questions are sent according to the merit level of students, mainly in Quantitative and Verbal Reasoning segments.
3) What happens if the examinee fails to complete this test?
Since all questions are compulsory to be answered, negative marking is given if some questions are left out for the shortage of time.
4) Is knowledge is English vocabulary essential for this test?
No, GMAT aims at checking the reasoning skills of students. Thus, they need to answer critical reasoning and correction of sentences in the Verbal Reasoning section, not needed thorough knowledge in English vocabulary.
5) How to prepare for GMAT?
Aspirants for GMAT need to practice regularly with GMATPrep app for improving their weaker points, like time management and reasoning skills. They should brush up their knowledge in English grammar and basic Mathematics, to get ready for this exam.
6) Where is the prep material available for GMAT?
GMATPrep software is available on www.mba.com, from where it should be downloaded for practice. It contains 2 full GMAT exam papers, along with several other practice questions. Examinees may also try the sites of GMATPrep Exam Collection, GMAT Write, and GMAT Focus Online Quantitative Diagnostic Tool for preparation materials.
7) Is the GMAT score only requirement for admission in a business school?
No, business management schools also check the academic results, recommendation letters, and interview reports beside the GMAT score.
8) Is business or commerce background essential for taking GMAT test?
No, commercial background is not required for taking this GMAT test, as only basic English and Mathematics are the subjects to be tested.
9) Is calculator allowed for taking the Quantitative Test in GMAT?
No, calculator is not allowed in solving the questions of Quantitative section of GMAT. So it is important to practice thoroughly without any calculator so that examinees can do mental calculations very fast.
10) How many days before the test is registration essential?
The online registration for GMAT should be done at least 30 – 60 days before the preferred examination date. Normally, these tests are conducted on Fridays or weekends so that examinees do not need to miss their regular classes.