WHAT IS GMAT?

The GMAT is a computer-adaptive test that assesses the candidates’ analytical writing, quantitative, verbal, and reading skills in standard written English. The cost of giving the GMAT Exam is US $275. This test is taken to get admission into a graduate management program, such as MBA and Masters in Finance-related courses in top business schools across the world. In this article, we will inform you about each and every aspect related to GMAT covering, GMAT Eligibility, GMAT Registration to GMAT Exam Pattern, and more.

Latest updates in GMAT

GMAC has announced the latest update on GMAT Online Test.

• The number of times a candidate can take the GMAT online exam will not be limited to 2 now. The online attempts will count toward the overall GMAT attempt limits of 5 in a rolling 12-month period, and 8 in a lifetime.
• The GMAT online exam includes 5 free score reports. The 5 free score reports must be used within 48 hours once the official online exam score is available. Additional score reports can be purchased for US$35 each.

GMAC announces acceptance of the Aadhar Card for the GMAT Online Exam.

Why take the GMAT Exam?

It is the most widely accepted exam for MBA admissions worldwide. No other exam has as wide acceptability as GMAT, as per the GMAC, globally 9 out of 10 MBA enrollments are made through GMAT Score. Further, 2,300 + schools accept GMAT Scores for giving admission. Also, there are 650 testing centers in 114 countries that administer the GMAT Exam.

GMAT 2022: Key Highlights

GMAT Eligibility

As such, there are no set criteria for GMAT eligibility set by GMAC, the body conducting of GMAT for appearing for the GMAT exam. However, one should always meet the eligibility criteria set by the university/college one aspires to get into after giving the GMAT.

GMAT Age Criteria

• The candidate must have completed 18 years of age
• There is no upper age limit for the candidate
• If the candidate is between 13 to 17 years old, they should have permission in writing from their parents or legal guardian

Educational qualification

• GMAC has not announced any official statement regarding the qualifications required to appear for GMAT
• Candidates who wish to enroll in an MBA programme should possess a graduate degree in any discipline from a recognized university

GMAT Exam Fees

The GMAT fees is $275, which would translate to INR 20,600 approximately. Also, if the applicants want to change the center or reschedule the test then they will be charged extra. Candidates who do not show up for the test will be charged full GMAT exam fees.

GMAT Cancellation Fee

If you cancel the exam 1 to 14 days before the test date then you will be charged $200 and $50 will be refunded. If you cancel the exam 15 to 60 days prior to the appointment then you will be charged $175 and $75 will be refunded. And if you cancel the test more than 60 days prior to the appointment then you will be charged $150 and will receive $100 as a refund. Moreover, the test appointment cannot be canceled or modified within 24 hours of the scheduled test and time.

GMAT Rescheduling Fee

If you reschedule the exam 1 to 14 days before the test date, you have to pay US$150. Also, if you reschedule the exam 15 to 60 days prior to the appointment then you have to pay US$100. If you reschedule the exam more than 60 days before the test date then you have to pay US$50.

GMAT Registration

According to GMAC, you can register for the GMAT entrance exam 6 months before the Graduate Management Admission Test date or latest by 24 hours before the GMAT exam date 2022, however, the slot is not available at the last moment. Therefore, it is suggested to book your preferred slot well before the planned exam date.

Ways for GMAT registration 2022:

• Online
• Phone
• Postal mail

There are six steps to register for the GMAT and also different steps for the GMAT schedule. You can read the complete steps for GMAT registration.

GMAT Exam Dates

There is no fixed official GMAT exam date 2022, you can choose any date according to your convenience and availability. In case you need to retake the GMAT exam you can do so after 16 days. You can take or retake the GMAT exam after every 16 days. You can appear for the exam a maximum of five times a year. Ideally, candidates are recommended to register themselves two to three months before the exam date. If you register online or by phone, you can get yourself registered as late as 24 hours before the exam date. But it is safer to stick to early registration as you will then have a set schedule to prepare for the exam accordingly. Even the coaching institutes recommend you to register at the earliest available date so that you have a wide window of time to prepare.

Syllabus of GMAT

GMAT is a three and a half hours test with a maximum score of 800 points. The GMAT test the candidate's abilities on various parameters. Further, the GMAT Syllabus has four sections:

• Analytical Writing Assessment—measures candidates' ability to think critically and communicate their ideas
• Integrated Reasoning—measures candidates' ability to analyze data and evaluate information presented in multiple formats
• Quantitative Reasoning—measures aspirants' ability to analyze data and draw conclusions using reasoning skills
• Verbal Reasoning—measures the ability of the candidates to read and understand written material, evaluate arguments, and correct written material to conform to standard written English

GMAT Score Calculation

Each of your five GMAT Scores i.e. 4 GMAT sections and the total score is reported on a fixed scale. These are your official scores that appear on your GMAT Score Report. Your selected score recipients will receive these scores. Always remember, that the GMAT Total Score Report includes Verbal and Quantitative scores and does not include any other section into account.

The GMAT Score Report comprises of these elements:

• Your Quantitative Score (0 – 60), with percentile
• Your Verbal Score (0 – 60), with percentile
• Your Total GMAT Score (200 – 800), with percentile
• AWA Score (half-integers from 0 to 6), with percentile
• Integrated Reasoning score (integer from 1 to 8)

GMAT Score Validity

Candidates should note that GMAT scores are valid for a period of 5 years. Hence, candidates should check the application deadlines of various universities and schedule their GMAT exam accordingly.

GMAT Scholarship

Scholarships and grants are generally given by B-schools to pursue a professional program like MBA. Moreover, scholarships can be need-based or merit-based, however, there are no set rules for awarding a GMAT scholarship 2022. It depends on each school’s admission process, so, the candidate should always check with the school itself for gaining a scholarship. Also, there are two kinds of scholarships, full and partial. The full scholarship covers the entire cost of the program, whereas a partial one covers only part of the course fee.