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At one point in time, the Graduate Management Admissions Test (GMAT) was the de facto exam that students took to get into business school. But in 2006, the creators of the GMAT, the Graduate Management Admissions Council (GMAC), decided to sever ties with the Educational Testing Service (ETS), who up until that point had administered the exam. This move, which ended the non-compete clause that the GMAC held over the ETS, allowed the ETS to challenge the stranglehold that the GMAC had on business school testing. Since 2006, the ETS has been campaigning schools to accept the GRE as an alternative to the GMAT. According to a press release by the ETS, “About 450 MBA programs worldwide now accept the GRE test, including 45 percent of the U.S. News & World Report’s top 100 U.S. programs and seven of the top 10 global MBA programs according to The Financial Times.” These schools include some of the top-ranked business schools in the world, such as Harvard, Stanford, Whar...

INTRODUCTION What is a standardized test? Standardized tests (e.g., SAT, ACT, GRE, GMAT etc.) are aptitude tests to assess the proficiency of students for a given course of study. The scores obtained in standardized tests are supposed to predict individual success in job or profession after completing the course. For example, research shows that the Graduate Management Admission Test (GMAT) is a valid predictor of students’ performance in the MBA program. Studies also support the proposition of post-MBA career successes with GMAT test scores. Most standardized tests consist of some form of evaluation for two subjects: English and Math. The first part of English, often called verbal ability test, assesses test-takers ability to read and write grammatically correct English. Several years of reading text-books, writing papers, speaking in front of the class at elementary and high schools allows standardized test takers to score well without much effort. Math in Standardized Tests The...