GMAT

So, you want to go abroad for a post graduation in management? Besides doing extremely well at graduate level, you need to prepare for an aptitude test that will get you into the University of your dreams. The aptitude test that you would be required to crack is GMAT.
 

After you are done with your graduation (Indian nomenclature), wanting to go abroad for a post graduation (phew! Indian lingo) in management, what do you do? Besides doing extremely well in your degree course, you start preparing for an aptitude test that will land you in the university of your dreams.  BINGO!! That aptitude test is GMAT. GMAT has selected Math, English, and Logic as the testing factors, so make note.

FORMAT OF GMAT (CAT) GMAT is a three-and-half hour computer adaptive test (CAT).  This test offers four sections in the test. The Quantitative and Verbal sub scores contribute to your total score. THE GMAT CONSISTS OF THREE SECTIONS:
ANALYTICAL WRITING ASSESSMENT	QUANTITATIVE	VERBAL

ANALYTICAL WRITING ASSESSMENT

• Two 30-minute typewritten essays
• Topics tested include: Analysis of an argument and analysis of an issue

QUANTITATIVE

• 75 minutes
• Maximum of 37 multiple-choice questions
• Question types include: Problem solving and data sufficiency
• Topics tested include: Arithmetic, algebra, and geometry

VERBAL

• 75 minutes
• Maximum of 41 multiple-choice questions
• Question types include: Reading comprehension, sentence correction, and critical reasoning
• Topics tested include: Speed reading, grammar, and analytical reasoning

GMAT, which is a standardized test has managed to maintain the same level of difficulty  through the years. Maintaining this consistency is a tough task—hence the need for experimental questions (questions that do not get added to the score). The experimental questions appear as part of the test, and measure the relative difficulty of potential questions. If these potential questions do not conform to strict specifications, the question is rejected. 

 

SCORING THE GMAT

The two major parts of the test are scored independently. You will receive a verbal score (0 to 60) and a math score (0 to 60). You will also receive a total score (200 to 800), and a writing score (0 to 6). The average total score is 500.

In addition, you will be assigned a percentile ranking, which gives the percentage of students with scores below yours.

 

HOW TO REGISTER
The Graduate Management Admission Test (GMAT) is available on computer, year-round, at test centers throughout the world. For a complete listing of the locations where the GMAT computer-adaptive test is offered in your area and for registration procedures, click on one of the selections below.

INTERNATIONAL LOCATIONS
Outside the United States, registration for the GMAT is handled in 14 Regional Registration Centers (RRC#). They will accept your registration on the phone, via fax or mail along with registration fee. Incase of rescheduling of your plans you can also readjust your test

To phone in your registration, find the country in which you want to test, and call the appropriate RRC for that country.

To register by fax, complete the International Test Scheduling Form, and include your credit card number. Send your fax to the appropriate RRC. Your confirmation number will be faxed to you. If you don't receive a confirmation, call the RRC two business days before your first-choice test date. (NOTE: If your credit card is declined, your appointment will automatically be canceled.)

To register by mail, complete the International Test Scheduling Form, found in the GMAT Information Bulletin, and mail it to the appropriate RRC# with your check or money order payable to "ETS-GMAT". Your information must be received at least three weeks prior to your first-choice test date. If you do not receive a confirmation, call the RRC two business days prior to your first-choice test date.

 

REGISTRATION COST
Fee
The GMAT test registration fee is $165 (USD) in the United States, U.S. territories and Puerto Rico. The fee is $210 (USD) in all other locations.
Rescheduling Your Appointment
The fee for rescheduling the date of a test or transferring from one center to another is $40 (USD) in the United States, U.S. territories and Puerto Rico. The fee is $48 (USD) in all other locations.
Canceling Your Appointment
A partial refund of $66 (USD) will be issued in the event that a test is cancelled at least seven calendar days prior to the scheduled appointment in the United States, U.S. territories and Puerto Rico. A partial refund of $84 (USD) will be issued in all other locations. If you decide to cancel your test appointment, you must contact the registration center (in the U.S. you may contact the test center directly) no later than seven calendar days prior to your scheduled appointment or your test fee will be forfeited. Refunds are made in U.S. dollars. If you paid by credit card, your account will be credited. Refund amounts are subject to change without notice.

 

 GMAT INFORMATION BULLETIN
The GMAT Information Bulletin is a free publication prepared for individuals who will take the Graduate Management Admission Test (GMAT) to apply for admission to graduate schools of management. The policy, fees, and procedures described in the current edition of the Bulletin apply to all aspects of the GMAT program . Fees are subject to change without notice.

This booklet contains detailed information concerning registration, test content and preparation, what to expect on test day, and GMAT scores. You can simply download the publication using Adobe Acrobat Reader software (follow the directions below).

The Bulletin is in the form of a downloadable PDF file in Adobe Acrobat format. In order to read or download this file, you need Acrobat Reader software. Adobe Acrobat is easy to download by pointing your browser to http://www.adobe.com/prodindex/acrobat/readstep.html and following the instructions.

WHEN IS THE CAT TAKEN?
The test is taken the year round during normal business hours. There is generally one week during each month in which the test is not offered.
 

HOW IMPORTANT IS THE GMAT AND HOW IS IT USED?
It is crucial! Although business schools may consider a whole lot of other factors, the vast majority of admission decisions are based on only two criteria: your GMAT score and your GPA.
 

HOW OFTEN CAN I/SHOULD I TAKE THE CAT?
Most people are better off preparing thoroughly for the test, taking it one time and getting their top score. You can take the test as often as you like, but many business schools will average your scores. You should call the schools to which you are applying to find out their policy. Then plan your strategy accordingly.
 

CAN I CANCEL MY COURSE?
Yes. When you finish the test, the computer will offer the option of canceling the test or accepting it. If you cancel the test, neither you nor any school will see your score. If you accept the test, the computer will display your score and it will be made available to all schools.
 

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WHERE CAN I GET THE REGISTRATION FORMS?

Most colleges and universities have their individual forms. You can also get them directly from ETS by writing to: 

HOW DO I BALANCE FINAL YEAR STUDIES AND WORK WITH GMAT PREPARATION?
Tricky issue isn't it? Obviously your final year exams are important with a capital I. Your degree, your campus placements and any other post graduate work that you may be interested in (including an MBA) will involve an assessment of your final year grades. Many final year students are also required to handle a project as part of their curriculum and this makes GMAT preparatory time even more scarce.
A work environment is certainly not without its pressures. Deadlines, meetings...what have you. So how does this affect your GMAT  preparation?  Should you quit your job and focus on the GMAT? Should you only concentrate on your final year and worry about the GMAT next year?
The answer to both these earlier questions is an emphatic "No".
Let's consider what it takes to prepare for the GMAT adequately. 2 to 3 hours a day, everyday, spread over a 4 to 6 month time frame. That's not really too much is it? Remember the GMAT is not about working hard; it is all about working smart. Excessive preparation, beyond 2 to 3 hours, really doesn't help. In fact it can even prove to be counter productive. The whole idea is to learn to be extremely efficient across 2 hours. So structure your preparatory time accordingly. Unlike university exams where last minute cramming, night-outs and an intense 1 month preparation can see you get by, often with flying colours, the GMAT is markedly different. Good GMAT preparation requires regular, focused work for short time spans, spread over at least 4 months.

WHAT WILL I LEARN FROM A MBA COURSE? 
Simply put, an MBA program exposes you to concepts, provides you with insights and practical orientation and equips you with tools that will aid you in making effective management decisions. A good MBA program streamlines your thought process, provokes your creativity and gives you the discipline to handle complex issues.
 An MBA is a passport to a lucrative and rewarding career. It’s a degree that can put you on the fast track and provide you with a single window opportunity to working with some of the best organizations in the world. An MBA can change lives. 

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IS AN MBA WORTH THE TIME & MONEY?
This question is very pertinent, particularly for candidates who are employed. I believe that this is a perfectly legitimate concern. Obviously, if you are doing well at work, the monetary trade-off are high. Add to this the cost of not having a continuous work record and possible loss of seniority due to this and the total cost of investing two years into an MBA program appears to be quite steep.
You would be doing injustice to an MBA program if you benchmarked it in terms of short-term monetary gains or losses alone. There's definitely more to it. 

Perhaps a more appropriate way to examine your returns on time and money invested would be view the accruals over the rest of your working life - typically 30 to 40 years. In tangible terms alone, gains in finances and in career advancement post-MBA easily outrun the gains you would have otherwise had over the first 3 to 5 years. This is because a good MBA program not only provides you with a launching pad for your career but also acts as a catalyst in your career advancement. Besides this, the rewards that you reap in terms of richness of job content, opportunities for making significant contributions and the changes in your overall perspective are truly priceless.

WHAT ARE THE SCHOLARSHIPS AND GRANTS IF I CLEAR THE GMAT?
Scholarships and grants are funds you do not have to repay. Competitive scholarships, some state grants and scholarships, some fellowships, and some tuition waivers and reductions are not based on financial need at all. An important source of scholarships for graduate business students is the school itself. Another source of scholarship funds are independent foundations. Internet is a powerful resource to get pertinent information regarding the details.

DO PREPARATORY COURSES FOR MBA ENTRANCES HELP?
Rephrased, this is the same as asking, "Can I really be coached for an 'aptitude' test?" Aptitude tests are essentially tests of skills that have been acquired over a long period of time. A view was held, quite strongly and for quite some time, that scores on such tests are not influenced by preparation. 

However research and authorities for these tests have proved that coaching helps.
The question then is what kind of training can be most effective and why? Most MBA entrance exams include testing of skills that are normally associated with aptitude testing-verbal, problem solving, reading and reasoning. What sets these exams apart is the ability to manage time and chose questions judiciously. 

Every year thousands of hopefuls appear for the MBA entrance exams. Unfortunately, several bright, otherwise eligible students are unfairly penalised for being under prepared, for not knowing critical test taking skills or for freezing up during the all important entrance test, thus concealing their true aptitude. 

Understanding what the exams call for, a clear sense of purpose, knowing what kinds of questions to expect and a systematic preparatory schedule can help overcome these problems. Preparatory course can aid your preparation immensely by reorienting you with the subject content in the tests, providing you with a simulated and competitive environment to prepare in, ensuring that your preparation progresses in a structured, systematic manner, sensitising you to exam patters and recent changes, if any, training you on test strategy and orienting your performances towards the desired levels of speed and accuracy, most importantly, providing you with a benchmark of your relative standing, preferably on a national scale, at regular intervals to ensure focused preparation.
And finally remember, joining a good MBA preparatory course is only half the story. The other half is how well you use it.

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WHAT IS CAT?
 CAT is nothing but Computer-Adaptive Test (CAT). The CAT requires only minimal computer skills. CAT actually makes your life easier for you by,

1.  Allowing you to take the test when you’re ready instead of having to pick from only four dates.
2. Enjoy a quiet cubicle for one, not a crowded testing room.
3. Phone in your registration.
4. Concentrate on one question at a time.
5. Get your quantitative and verbal scores immediately, not after weeks of waiting.

In the CAT, the computer screen displays one question at a time, chosen from a very large pool of questions organized by their content and level of difficulty. The first question in a computer-adaptive test is always of medium difficulty. The questions that follow are determined by your responses to all previous questions.

The CAT adjusts to your ability level - you’ll get few questions that are either too easy or too difficult. You must enter an answer for each question, and you may not return to or change your response to any previously answered question. If you guess or answer a question incorrectly by mistake, your answers to the questions that follow will lead you back to the questions that are the appropriate level of difficulty for you.

WHAT IS THE TENTATIVE COST OF AN MBA PROGRAMME AFTER CLEARING THE GMAT? 
The yearly cost of an MBA program can range from less than $5,000 for resident tuition at a state-supported school to more than $70,000 at a private school for tuition, living expenses, books, and travel to and from school.In estimating the total cost of an MBA education, you should include direct expenses - tuition, fees, and books - as well as indirect expenses such as living cost, medical expense, insurance, and dependent support.
The difference between the amount you can contribute to your education and the total cost of that education is financial need. You will find a budget quite useful in determining your financial need.

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HOW DO I PREPARE FOR GMAT?
Be familiar with the mechanics of the test and the kinds of questions that are asked. You must  look at the sample questions along with your test material. While practicing pay attention to where you are in the test, the number of questions that remain in a section, and the amount of time you have left. On average, you have about 1 3/4 minutes for each verbal question and 2 minutes for each quantitative question. You’ll have 75 minutes for 37 quantitative questions and 75 minutes for 41 verbal questions. If you don’t know the answer to a question, or it’s too time-consuming, guess. You can’t skip a question and go back to it, or change your answer once you have moved on to the next question.
To prepare for the Analytical Writing Assessment, practice on the sample writing topics. You will have 30 minutes to compose each of two essays.

HOW WILL I FIND A BUSINESS SCHOOL?
How much time will I realistically be able to give to my business school studies? Will I be able to keep up? What kind of teaching environment allows me to thrive? Will I respond best to the more structured environment of traditional lectures, or does the more free-wheeling case study method sound appealing? Do I enjoy participating in group discussion or working on my own? Do I want to attend a school with strengths in a particular area? Does the school's curriculum match my interests? Which schools offer the specific program that I'm interested in? Once you are clear on what you are looking for, get the rating of various schools and decide. Also collect as much information about all the schools as possible.

PLEASE TELL ME ABOUT MBA PROGRAMS ABROAD?
Though no two schools offer the same curriculum, all MBA programs expose students to a common body of knowledge in basic areas including accounting, economics, organizational behavior, statistics and quantitative methods, finance, marketing, operations and policy. This core usually forms a foundation for more concentrated study in one or more elective areas.
Many schools offer joint degree programs, so students can earn an MBA and a law degree or an MBA and an engineering degree, for example, in a unified fashion. When a student goes to school full-time (excluding summers) in pursuit of the MBA degree, it usually takes two years. At some schools, students with outstanding undergraduate business preparation can complete programs at an accelerated rate.
Part-time MBA students are often able to broaden their career options without interrupting their earning capabilities, stretching school costs over a longer period of time and often having some or all of the expense underwritten by an employer.
Those with more than six years of business experience might want to consider an executive MBA program. Usually held on weekends and lasting for 18 months or so, these intensive programs hold special appeal for experienced managers.

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