What is the GMAT?

GMAT (Graduate Management Admission Test)
(pronounced G-MAT)
–a standardized, computer adaptive test (CAT) that measures aptitude to succeed academically a Masters in Business Administration (MBA) degree. Business schools use this test  as a standardized way of assessing individuals globally who come from different backgrounds and have attended schools with different grading systems. The test is administered in English and costs $250 globally.

The GMAT score is only one of several factors that business schools use to make admissions decisions. Given the intense work required to prepare a business school application, it is a good idea to reach your target GMAT score in as little time as possible so that you can focus on your extracurricular activities and essays.

TEST STRUCTURE

Part I: Analytical Writing Assessment (AWA) – [2 Essays, 60 minutes]
A. Analysis of an Argument (30 minutes)
B. Analysis of an Issue (30 minutes)

5 min break

Part II: Quantitative Section (37 questions, 75 minutes)
A. Problem Solving (23 or 24)
B. Data Sufficiency (13 or 14)

5 min break

Part III: Verbal Section (41 questions, 75 minutes)
A. Critical Reasoning (14 or 15)
B. Reading Comprehension(4 passages, 12-14)
C. Sentence Correction (14 or 15)

How does the Computer-Adaptive Format of the test work for the Verbal and Quant sections?

The Computer-Adaptive Test (CAT) is new to most people. It helps to understand how it works, but don’t get too bogged down on the details.  The test is administered at testing centers throughout the world. Just visit www.mba.com to register for the one nearest you at your earliest convenience.

• The Verbal and Quant sections are multiple choice
• Each section starts with a medium-level question
  • If you answer correctly, your next question is harder
  • If you answer incorrectlym, your next question is easier
• The computer will keep adjusting to find an accurate assessment of your ability level in that subject area
• Every test contains trial multiple-choice questions that are being pretested. Technically, they do not count in your scoring. However, it is impossible to identify them.

Many students panic when they see an “easy” question on the GMAT exam, indicating they probably just got the previous question wrong. You should not be focusing on these little details because they can detract from your psychological stamina during the exam. What you should be focused on is getting whatever question is thrown at you correct and moving on to the next one in a timely manner.

The # of questions you answer correctly out of 37 Q questions is translated onto a Quant raw score of 51, weighted on level of difficulty and other statistical characteristics of each question.

Likewise, the # of questions you answer correctly out of 41 V questions is translated onto a Verbal raw score of 51, weighted on level of difficulty and other statistical characteristics of each question.

Is the essay handwritten or typed?
The essays are typed. And yes, you can cut-and-paste.

How long is the GMAT score valid?
The score is valid for 5 years from the day you take the test.   So even if you are not sure about business school in the next year or two, it might be a good idea to take it earlier when you are more familiar with the test-taking process. If you take the exam multiple times, business schools will see all of your scores for the last 5 years.

How should I prepare?
You should first take a look at the GMATPrep Free Software. Sign up for a login and download the program, which consists of used GMAT questions that are about as close to the real thing as you can get!

There are a variety of prep programs around. Many of them charge rates of $1,500+. However, don’t be fooled. High prices don’t necessarily equate to a better prep resource for you. You should evaluate how best you learn. If you you don’t feel like paying the premium for somebody’s time (as in tutoring or a prep course) then these options may not be for you.

The GMAT preparation experience does not have to be a stressful one. Find the method that works for you and you’ll be glad you did because you’ve got plenty to work on for your extracurricular activities!

To sign up for the GMAT and more details on that process, read my GMAT Test Date article.

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GMAT Vs. SAT

What is the difference between the GMAT and SAT?

Both are standardized tests. SAT is for college admission and GMAT is for business school admission (MBA).  Both exams are multiple choice and have a math/quant section and a verbal/writing section.

But there are significant differences:

Question Content/Format

• The GMAT Math is much more about logic than the SAT Math, whereas the SAT Math is more about calculation and “plug and chug” questions.
• The GMAT Verbal is also more about argumentative logic while the SAT Verbal is more about vocabulary.
• The GMAT is a computerized adaptive test. Questions are dynamically generated based on whether you get the question right or wrong.
• The SAT is a set test and every test taker on a given day will see the same set of questions.

Price

• The GMAT costs $250 globally.
• The SAT costs $45.

Test Takers

• Nearly every high school junior/senior ~ages 16/17 in the US takes the SAT
• Self-selected students ranging from age 21-45 with ambitions of business school take the GMAT exam

GMAT Test Availability

• GMAT: Virtually any time opening that your local test center has during the typical 5 business days of the week in front of a computer. I go into more details of the GMAT signup process in my article “GMAT Test Dates and Registration.”
• SAT: Administered 7 times per year in classroom settings–pencil and paper.

The SAT was quite well known in high school Remember wayback in high school when everybody freaked out about the SAT?  Guidance counselors would remind you every other day and teachers would constantly bring it up. There was much more AWARENESS about the exam.

The GMAT, on the other hand, requires much more self initative. Your employer will not ask you “you need to get your act together and study for the GMAT”–like your guidance counselor would do. Your friends probably won’t remind you either, because not all of them will be taking the exam around the same time you will be taking the exam. Instead of competing against every other high school kid around the age of 16 or 17, you will be competing against working professionals roughly in the age range of 21-40 who are a self-selected group of ambitious and goal-oriented individuals. No slackers will take the GMAT whereas there are plenty of slackers who take the SAT “just because” the school makes them.

The GMAT exam is much more competitive than the SAT exam and often has less awareness. This is more the reason to make sure that you ARE prepared.

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When To Take the GMAT And Why Earlier Is Usually Better

There is no set date (like there is for the SAT) that you must take the GMAT. So you have the liberty of scheduling a date and time for your testing at the nearest testing administration site.

Sounds good. Since I can choose when to take the exam, when is the best time to do so?

Perhaps the best time to take your GMAT is while you are still in school, or shortly afterwards. Remember, as you gain more real world experience, you lose the test-taking intuition that you used to have when you were in school. Taking an intensive test like the GMAT 5 years after your last rigorous exam can be quite challenging. Test-taking intricacies like operating in a time pressured environment, reading through answer choices, marking answers, and dealing with psychological issues are second nature to you when you are in school, but they become quite unfamiliar the longer you wait after college. You want to minimize this risk by taking the exam during the summer after graduation or the summer between your junior and senior year–this is the ideal time. Remember, the GMAT exam is valid for 5 years. If you have any intention of applying for business school sometime in the next 5 years, you should take it at your earliest convenience.

I am not in college anymore and I missed my chance to take the GMAT during this time. What do I do now?

Don’t worry. Thousands of people are in your shoes. You might not be used to the pressures of test taking so will need to pay extra attention to doing several practice exams mimicking exam-like conditions.

What do you mean by exam-like conditions?

I mean instead of just running through questions on a practice exam bit by bit, you should schedule an entire morning or afternoon to take the exam with a timer. Especially with the Computer Adaptive Test (CAT) format of the exam, you should take these practice exams AS IF it were the real thing, at least several days before your real exam and preferably earlier.

What else should I take into account?

If you are considering the GMAT, chances are you have a busy life. When applying to business school, you will need to dedicate time not only to your job, but also any extracurricular activities or initiatives you are pursuing. Part of an organization that holds ambitious yearly events? Put some time and effort and participate on the board in a leadership position. Itching for a promotion at your job so you can mention it in your Bschool application? You’ll need to put in the time and effort. You’ll also need to budget time for researching/visiting schools and writing those dreaded essays. And of course, you want a social life and time with your family. The GMAT is the LAST thing you want to worry about when juggling all these things. That’s why it is best to get it out of the way.

Should I study first and then schedule the exam or schedule the exam and then study?

This is a personal preference. I would recommend you to schedule the exam a few months in advance when you intend to take it. Pay the $250 (yes, not cheap) it costs to take the exam so that you are invested into the exam–forcing you to study. Otherwise, if you casually study for the exam, you may never progress anywhere.

Read more details in my entry “GMAT Test Dates and Registration.”

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4 Myths of the Computer Adaptive Test (CAT)

Because the CAT format for the GMAT exam is relatively new or most people, too many people incorrectly believe certain things about the exam. Let’s break it apart.

Myth #1: It is more important to answer correctly than to finish the test.

GMATPill: There is a SEVERE penalty for not completing the GMAT. Unlike the SAT where you have the option of leaving a question blank, the GMAT grades every question. If you don’t finish the exam, your score is greatly reduced. Failing to answer 5 questions on verbal can reduce your score from the 91st percentile to the 77th percentile. Depending on where you are on the curve, you can expect to drop roughly 15 percentage points for not finishing the last 5 questions. That’s a STEEP drop. Make sure you finish the test!

Myth #2: The first 10 questions dictate which level of difficulty you will be in for the rest of the test and will therefore dictate what scores you can reach.

GMATPill: While it is true that the CAT algorithm uses the first set of questions to obtain an estimate of your ability, the algorithm does self-correct based on each question that is answered. Your end score is based on ALL your questions and is not weighted unfairly to the first few questions. You should not be spending an unnecessary amount of time on the first 10 questions at the expense of the rest of the test.

Myth #3: Getting an easy question means you just got the last one wrong.

GMATPill: Another dangerous myth. Remember there are a few experimental questions on each test that can be in any level of difficulty. Getting an easy question in the middle of the test can mean you got an experimental question. Or perhaps what YOU think is an “easy” question is actually categorized as a “medium” question by the GMAT. At the end of the day, you really should not waste your time assessing the level of difficulty of a question. What you should be focused on is answering each question efficiently and moving on to the next.

Myth #4: You need to think through every single question.

GMATPill:  Remember there is a HUGE penalty for not finishing the exam–roughly 15 percentage points for not answering the last 5 questions. You MUST answer every question–but that doesn’t mean you have to think through every single one. If you come across a very difficult question that you think will take you 4 or 5 minutes, you should probably narrow it down as best you can within 2 minutes and then guess. Don’t waste another 3 minutes if you don’t think you can answer the question correctly. In this case, it is better to guess and move on than to risk not finishing the test.

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