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The GMAT is the standardized test used by business schools for admission to graduate level programs.
It is supposed to measure the skills necessary for business school and predict academic performance in an MBA program.
We could debate whether the GMAT is an effective predictor of success in business grad school and whether the best candidates are the ones admitted to MBA programs.
But we do not debate that here.
We stick to the notion that the GMAT is the test used, and you better prepare for it so you can do well and be admitted to an MBA program.
It costs $250 to take the GMAT — each time you take the test.
There are additional fees for rescheduling, canceling, ordering additional score reports at the official GMAT website.
You take the GMAT exam on a computer in an individual workstation. It used to be a paper-based test.
The GMAT is given year-round at roughly 400 authorized test centers around the world. It used be given only a few times a year. Here is a link to find a test center and check for seat availability.
Bring ID with you to the test center. Check the latest official info about test day identification procedures. New, high tech procedures are being rolled out after numerous cases of fraud were uncovered where paid test-takers were taking the GMAT for others.
Arrive at the test center with lots of time to spare. Allow for being caught in traffic because late arrivers may be turned away and your fee will not be refunded. Also, you will have to complete some paperwork and go through the identification process. Finally, you will benefit from some personal time to use the facilities and then sit calmly and center yourself, clear your head and be ready to focus on the test.
You can take the GMAT again. In fact you can take it as many times as you want. But, you cannot take it more than one time in a calendar month. But, never take the GMAT as practice because all your scores are sent to the schools that you are applying to.