Because the GMAT is a computer-adaptive test, your verbal and quantitative scores aren't based just on the number of questions you get right. The scores are based on three factors.
GMAT stands for Graduate Management Admission Test. Just as the SAT is an admission test for high school students to get admissions into college, the GMAT is an admission test for after-college students to enter into business world by taking admission into a business school.
It is very common for management candidates to retake the GMAT. You may feel test-day anxiety or you may have not prepared as thoroughly as you should have. Whatever be the reason, there is mostly feeling of giving GMAT exam again after you have attempted it.
GMAT was started in the year 1953. Representatives from nine business schools - Columbia, Harvard, Northwestern, Rutgers, Seton Hall, University of Chicago, University of Michigan, University of Pennsylvania, and Washington University in St. Louis, met and planned to establish a standardized way to assess qualified candidates for the skills required in the business school.
Your GMAT score includes a percentile ranking that gives you a measure of how your skill level compares with other GMAT takers. GMAT percentile ranking is calculated using the past three years of test-taker data.
The GMAT Enhanced Score Report (ESR) allows you to be in control of your performance by giving an in-depth review of the scores and insight into test-taking skills. Ever since its launch in 2015, the ESR is evolving constantly with enhanced features that provides better ways to leverage test experience and improve understanding of GMAT exam performance.
The cost to take the GMAT exam or scheduling the exam is US $250 globally. Rescheduling the exam costs US $50. GMAT exam fees are relatively more expensive than other similar standardized exams. The cancellation fee (when more than 7 days out) is $170. You will get $80 refund.
GMAT is a standardized test which means it tests your academic potential, not your knowledge of specific subjects. The GMAT test consists of four separately timed sections. Starting of the test is with one 30-minute Analytical Writing Assessment (AWA) question that requires you to type using the computer keyboard.