GMAT stands for Graduate Management Admission Test, which is conducted by the Graduate Management Admission Council (GMAC). It is a computer-based adaptive exam and is taken by the candidates who want to pursue a career in business and want to get admitted into graduate management programs such as Master in Business Administration and Masters in Finance courses. It is mostly popular for MBA courses. GMAT measures a person’s analytical writing, qualitative, verbal and reading skills in English. Candidate can give GMAT exam up to 8 times in their lifetime.
GMAT application form costs $250, which is roughly translated to Rs 15000-17000 in Indian currency. Also, for postponement or changing the test centers, students will be charged an extra $50.
For rescheduling the exam before seven days of the test will cost $50 fee, rescheduling exam within seven days would cost $250 fee. But rescheduling the exam within 24 hours of planned test date and time is not possible.
For canceling the test before seven days of the scheduled test student will be refunded $80 and if the student cancels test within seven days before the exam, then they will not get back any money.
Eruditions are also granted to students but only on the basis of merit although giving scholarships depends fro colleges to colleges, on their criterion of admission. There are two types of scholarship granted one is full scholarship which covers the entire cost of program other is partial, which covers only part of the course fee.