Graduate Management Admission Test

The Graduate Management Admission Test (GMAT (/ˈdʒiːmæt/ (JEE-mat))) is a computer adaptive test (CAT) intended to assess certain analytical, writing, quantitative, verbal, and reading skills in written English for use in admission to a graduate management program, such as an MBA. The GMAT does not measure business knowledge or skill, nor does it measure intelligence. According to the test owning company, the Graduate Management Admission Council (GMAC), the GMAT assesses analytical writing and problem-solving abilities, while also addressing data sufficiency, logic, and critical reasoning skills that it believes to be vital to real-world business and management success. On June 5, 2012, GMAC introduced an integrated reasoning section to the exam that is designed to measure a test taker’s ability to evaluate data presented in new formats and multiple sources.

GMAT is a registered trademark of the Graduate Management Admission Council. More than 5,900 programs offered by more than 2,100 universities and institutions use the GMAT exam as part of the selection criteria for their programs. Business schools use the test as a criterion for admission into a wide range of graduate management programs, including MBA, Master of Accountancy, and Master of Finance programs. The GMAT exam is administered in standardized test centers in 112 countries around the world. According to a survey conducted by Kaplan Test Prep, the GMAT is still the number one choice for MBA aspirants despite the increasing acceptability of GRE scores. According to GMAC, it has continually performed validity studies to statistically verify that the exam predicts success in business school programs.

Problem solving

Problem solving consists of using generic or ad hoc methods, in an orderly manner, for finding solutions to problems. Some of the problem-solving techniques developed and used in artificial intelligence, computer science, engineering, mathematics, or medicine are related to mental problem-solving techniques studied in psychology.

Definition

The term problem-solving is used in many disciplines, sometimes with different perspectives, and often with different terminologies. For instance, it is a mental process in psychology and a computerized process in computer science. Problems can also be classified into two different types (ill-defined and well-defined) from which appropriate solutions are to be made. Ill-defined problems are those that do not have clear goals, solution paths, or expected solution. Well-defined problems have specific goals, clearly defined solution paths, and clear expected solutions. These problems also allow for more initial planning than ill-defined problems. Being able to solve problems sometimes involves dealing with pragmatics (logic) and semantics (interpretation of the problem). The ability to understand what the goal of the problem is and what rules could be applied represent the key to solving the problem. Sometimes the problem requires some abstract thinking and coming up with a creative solution.

Veritas Prep

Veritas Prep is a privately held test preparation and graduate school admissions consulting company. Veritas Prep operates in more than 100 cities in 22 global countries from its Malibu, California headquarters. The company was founded on the campus of Yale University in 2002 by Yale School of Management graduates Chad Troutwine and Markus Moberg, who worked on the business plan for the company in Professor David Cromwell's entrepreneurial planning class. Troutwine currently serves on the Yale School of Management Alumni Association Board of Directors. Veritas Prep emerged after winning business plan competitions sponsored by the Yale Entrepreneurial Society (YES), Active Capital (formerly ACE-NET), Carrot Capital, and Forbes magazine. In 2009, Entrepreneur magazine favorably compared Veritas Prep to Apple and Google.

GMAT Preparation

Veritas Prep offers classroom courses, pre-recorded courses, live online courses, and private tutoring for the GMAT, a standardized test. The Veritas Prep program spans 36 hours and includes twelve different lesson booklets. Since the company’s inception, all Veritas Prep instructors have scored above the 99th percentile on the GMAT.