Graduate Management Admission Test - GMAT

DEFINITION of 'Graduate Management Admission Test - GMAT'

A standardized test intended to measure a test taker's aptitude in mathematics and the English language. The GMAT is most commonly used as the primary exam reviewed by business schools to gain entrance into an MBA program. The exam is generally offered by computer only; in areas of the world where computer networks are limited, the exam may be given as a paper-based test.

BREAKING DOWN 'Graduate Management Admission Test - GMAT'

The GMAT exam consists of three sections: analytical writing assessment, verbal ability and a quantitative section. The maximum score achievable for the GMAT is 800, and exam scores are generally valid for five years following the exam's completion.

RELATED TERMS
  1. Thunderbird School of Global Management

    A graduate business school specializing in international business. ...
  2. Cramming

    An emergency test-preparation strategy that involves an attempt ...
  3. Graduate Record Examination - GRE

    A standardized exam used to measure one's aptitude for abstract ...
  4. Baccalaureate Bond

    A zero-coupon bond issued by certain states to assist families ...
  5. Chartered Financial Analyst - CFA

    A professional designation given by the CFA Institute (formerly ...
  6. Education IRA

    A savings plan for higher education. Parents and guardians are ...
Related Articles
  1. Savings

    5 Retirement Planning Rules For Recent Graduates

    The future may seem far off, but now is the time to plan for it.
  2. Professionals

    Get An Academic Finance Career

    Working nine months a year and earning a six-digit salary might seem like the high life, but these jobs are not easy to come by.
  3. Professionals

    The Real Cost Of An MBA

    When adding up tuition, books, rent and foregone salary, an MBA can cost as much as a house. Is it worth it?
  4. Professionals

    Should You Get A CFA, MBA Or Both?

    These certifications require time and money, but combined programs are making obtaining both designations more realistic.
  5. Professionals

    Ace Your Business School Courses

    Work smarter, not harder, to get top grades in your business school classes.
  6. Professionals

    A Double Undergrad Can Cost You Your MBA

    At college, many students prefer to do a double undergrad to broaden their education, but this can hinder you - financially and professionally - in the long run.
  7. Entrepreneurship

    The GRE: A Cheaper Alternative For Business School

    The GMAT is the standard test for business schools, but many will accept a GRE score instead.
  8. Retirement

    Attend Grad School For Free

    Securing funding for your education isn't always the easiest thing to do, but there are some ways to get assistance.
  9. Professionals

    Is A Stockbroker Career For You?

    Becoming a stockbroker requires a broad skill set and the willingness to put in long hours. But the rewards can be enormous.
  10. Investing Basics

    How to Become A Self-Taught Financial Expert

    Becoming a self-taught financial expert may not be as daunting of a task as it seems.
RELATED FAQS
  1. What's the difference between microeconomics and macroeconomics?

    Microeconomics is generally the study of individuals and business decisions, macroeconomics looks at higher up country and ... Read Full Answer >>
  2. What’s the difference between the two federal student loan programs (FFEL and Direct)?

    The short answer is that one loan program still exists (Federal Direct Loans) and one was ended by the Health Care and Education ... Read Full Answer >>
  3. Student loans, federal and private: what's the difference?

    The cost of a college education now rivals many home prices, making student loans a huge debt that many young people face ... Read Full Answer >>
  4. Can I use my IRA to pay for my college loans?

    If you are older than 59.5 and have been contributing to your IRA for more than five years, you may withdraw funds to pay ... Read Full Answer >>
  5. Can I use my 401(k) to pay for my college loans?

    If you are over 59.5, or separate from your plan-sponsoring employer after age 55, you are free to use your 401(k) to pay ... Read Full Answer >>
  6. What are the best MBA programs for corporate finance?

    Opinions vary based on which publications you consult, but the best MBA programs for a career in corporate finance are at ... Read Full Answer >>
Hot Definitions
  1. Black Swan

    An event or occurrence that deviates beyond what is normally expected of a situation and that would be extremely difficult ...
  2. Inverted Yield Curve

    An interest rate environment in which long-term debt instruments have a lower yield than short-term debt instruments of the ...
  3. Socially Responsible Investment - SRI

    An investment that is considered socially responsible because of the nature of the business the company conducts. Common ...
  4. Presidential Election Cycle (Theory)

    A theory developed by Yale Hirsch that states that U.S. stock markets are weakest in the year following the election of a ...
  5. Super Bowl Indicator

    An indicator based on the belief that a Super Bowl win for a team from the old AFL (AFC division) foretells a decline in ...
Trading Center