What is the GMAT?: The GMAT, or Graduate Management Admission Test, is a computer-based standardized test required for application to business schools. It contains three sections including multiple-choice questions and 2 essays. It is not a test of specific subject material; more than anything, it evaluates your ability to analyze information and your critical thinking skills.
Who Takes the GMAT?: Everyone who applies to business school, e.g. to earn an MBA or other management degrees, must take the GMAT. An average of 90,000 Americans take the GMAT each year, out of about 130,000 testers worldwide.
What Subjects Does the GMAT Cover?: The GMAT isn't a test of the subjects you learned in college - it is meant to evaluate general academic skills that should have been developed over the course of your education. It contains three sections that test your verbal, quantitative, and writing skills. The writing section requires you to write 2 essays.
How Long is the GMAT?: The maximum GMAT testing time is three and a half hours, with the optional addition of two 10-minute breaks between each section. That includes a 60-minute writing section containing two 30-minute essays, a 75-minute Quantitative section, and a 75-minute Verbal section. But because the test is self-paced, you may move faster through the sections.
How Long Do I Need to Prepare?: I would recommend starting to study a year before beginning to apply to business schools. This is because the GMAT can be a big challenge, especially if you haven't reviewed high school math or written essays in a while. The GMAT requires critical thinking skills that don't come naturally to most people. So give yourself time to prepare, test, and possibly re-test if necessary.
When Should I Take It?: I recommend taking the GMAT at least 4 months before your application deadline. This is because you will have to wait 31 days to re-test if necessary (up to 5 times per year), plus it will take 20 days for your scores to be available. You need to plan to have the time to repeat this process if you want to try to raise your scores. But don't jump into the test - make sure that you have prepared by taking diagnostic tests, targeting your weak areas, and practicing each problem type.