Some GMAT FAQs

Business & Management
#1

Q. Where and when can I take the GMAT exam?
A. The GMAT exam can be taken throughout the year in specified test centers. Recently, GMAC has started offering the GMAT in the online mode as well due to the COVID pandemic.

Q. How much does it cost to take the test in India
A. It costs $275 (approximately Rs.20,000 on 18th Jan 2022)

Q. What is the reschedule fee for India?
A. Rescheduling the exam costs differently based on the number of days before the test that the candidate reschedules

  1. More than 60 days before the test date - $50 (Rs. 3712 on 18th Jan 2022)
  2. 15-60 days before the test - $100 (Rs. 7424 on 18th Jan 2022)
  3. 14 days or less before the test - $150 (Rs.11,137 on 18th Jan 2022)

Q. What is the cancellation fee for India?
A. As in the case of rescheduling the cancellation fee also depends on the time before the test that the cancellation is requested. The amount refunded is as follows

  1. More than 60 days before the test date - $100 (Rs. 7424 on 18th Jan 2022)
  2. 15-60 days before the test - $75 (Rs.5568 on 18th Jan 2022)
  3. 14 days or less before the test - $50 (Rs.3712 on 18th Jan 2022)
#2

FAQs regarding GMAT exam.

GMAT has been there for quite a long time, and it is termed as the mountain standing between dream business school and its applicants. Thus naturally, a lot of questions arise regarding the various complexities of the paper. So in this post, I shall try to clear the tip of the iceberg by answering some of the major questions.

What is the format of the GMAT exam?

It is a computerized adaptive test that gauges the problem solving, coherent analysis, logical deductions, and numerical analysis of the test takers. This test assesses quantitative aptitude, verbal aptitude, writing ability, analytical skills, logic, critical reasoning skills needed for successfully completing a management course. A 3 hour 7 mins test has four sections, namely Analytical Writing Assessment (30mins), Integrated Reasoning(30 mins), Quantitative Reasoning(62 mins), and Verbal Reasoning(65 mins). The maximum that one can score in this test is 800, but anything above 700 is considered a competitive score.

What does computer-adaptive mean?

The Quantitative and Verbal Reasoning sections of the GMAT are computer-adaptive, meaning, based on the responses provided, the system tailors the test according to real-time ability level. If the test taker gives a wrong answer, the system follows it up with an easier question, but with a correct answer, the net question will be more difficult. That’s why each applicant will have different sets of questions with no one being alike. Due to this, there is a no-go-back option, skipping or changing the answers to the questions.

The final score of the GMAT is dependent on the difficulty level of the questions attempted by the applicant. A correct answer with high difficulty fetches a higher score and vice-versa.

Which programs accept GMAT scores?

With a total of 110 countries accepting the GMAT score, it is quite an important exam to get into renowned B schools across the globe. A total of 7000 programs with 2300 universities acknowledges and accepts this score. The renowned programs are:

  • Masters in Business Management (MiM/ MBM)
  • Master of Accountancy
  • Master of Finance programs, among others
  • Management in Business Administration (MBA)

To get into the top universities, a score of 720+ can give a good turnout for colleges like Harvard University (MA), Columbia University (NY), University of Chicago (Booth), to name a few.

What is the eligibility for GMAT Exam?

The GMAT exam does not have any specific criteria except age, but the universities in which one applies can have some constraints and criteria of their own.

Age limit - One has to be above 18 to give this paper. There is no upper limit in this scenario. In case the candidate’s age is between 13-17, there should be mandatory written permission from parents or legal guardians.

Educational Qualification - There is no official announcement by the GMAT official site for a graduate degree to give the exam, but this degree is required to enroll in an MBA program from a recognized university.

Nationality - There is no restriction or bar regarding the nationality of the applicant.

Number of attempts - Candidates can appear a maximum of 5 times in a year and eight attempts for a lifetime.

Retaking the GMAT exam - A wait of a minimum of 16 days before taking the test again.