Entrance Exams: The GMAT Exam The Graduate Management Admission Test (GMAT) is an essential part of the selection admission process for 4000 graduate management programs at 1,800 schools around the world. The exam has been accepted a proven and reliable measurement to judge a candidates’ skill and predict their success in the graduate business curriculum, for over 50 years. The cost of this exam is US$250 worldwide. The GMAT exam consist of three main parts, the Analytical writing Assessment, the Quantitative section, and the Verbal Section. You have three and a half hour in which you have to finish the exam. This is a computer based exam. You need minimal computer skills to appear for this exam. Most of the students start preparing about 3 to 6 months before the test date. You need a lot of discipline and dedication in your preparation. This exam measures the basic verbal, Mathematical and analytical writing skills that you have developed in your earlier education. GMAT scores are valid for five years. If you are not satisfied then you can go for another GMAT exam. Though, all your scores from the past five years will appear on your Official Score Report.