Created in 1953, the GMAT is the most reliable indicator of student success in graduate management education, according to the Graduate Management Admission Council, which administers the test. Only the GMAT combined with the test taker's undergraduate grade-point average is a better predictor.
Today, it is available in more than 90 countries, with more than 250,000 taking it in 2008. The Next Generation GMAT, planned for completion in 2013, promises to be a more advanced, more precise version of the original.
The GMAT costs $250 and can be taken at test centers internationally, six days a week.
Its computer-adaptive format adjusts to your ability level and requires that each question is answered before proceeding to the next.
The exam has three main sections: analytical-writing assessment, quantitative and verbal.
In the analytical writing assessment section, you must write two essays in an hour, with 30 minutes allotted for each. One essay analyzes an issue, while the other analyzes an argument.
The quantitative section consists of 37 questions addressing problem solving and data sufficiency. This portion of the test lasts 75 minutes.
Also 75-minutes long, the verbal section is composed of 41 questions about reading comprehension, critical reasoning and sentence correction.
After taking the GMAT, you will get four scores: one for each section and a total score. Though you may print an unofficial score report immediately after the exam, an official score report will not be available for about three weeks.
Total GMAT scores range from 200 to 800, with two-thirds of test takers scoring between 400 and 600, according to the GMAC.
If you take the test and aren't satisfied, you may cancel your score at the test center before you see it. The canceled score will be reported in future score reports, and you must wait 31 days to retake the exam.
Most test takers prepare three to six months before the test. The Princeton Review offers preparation programs featuring private and group tutoring, classroom and online courses, and a line of GMAT books.
To find a test center near you, visit mba.com