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GMAT Myths -- from GMAC Conference

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GMAT Myths -- from GMAC Conference [#permalink] New post 09 Nov 2007, 14:41
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GMAC Conference Notes - Also see attached Powerpoint presentation.

• MYTH - If I don't score in the 90th Percentile, I won’t get into any school I choose.

o Reality – Very few people get super high scores. Less than 50 of the 200,000 people who take the GMAT exam each year get a perfect score of 800. Thus while you may be exceptionally capable, the odds are against you achieving a perfect score. Also the GMAT is just one piece of your application packet. Admissions officers use GMAT scores in conjunction with undergraduate record, application essays, interviews, letters of recommendation, and other information when deciding who to accept into their programs.

• MYTH – Getting an easier question means I answered the last one wrong.

o Reality – Not necessarily. To assure that everyone receives the same content, the test selects a specific number of questions of each type. The test may call for your next question to be a relatively hard problem-solving item, involving arithmetic operations. But, if there are no more relatively difficult problem-solving items involving arithmetic, you might be given an easier item. Most people are not skilled at estimating item difficulty, so don’t worry when taking the test or waste valuable time trying to determine the difficulty of the questions you are answering.

• MYTH – You need very advanced math skills to get a high GMAT score.

o Reality – The math skills tested on the GMAT are quite basic. The GMAT only requires basic quantitative analytic skills specifically underlying math (algebra, geometry, basic arithmetic) and the required skill level is low. The difficulty stems from the requisite logic and analysis skills not the underlying math skills.

• MYTH – It is more important to respond correctly to the test questions than it is to finish the test.

o Reality – There is a severe penalty for not completing the GMAT. If you are stumped by a question, give it your best guess and move on. If you guess incorrectly, the computer will likely give you an easier question, which you are likely to answer correctly and the computer will rapidly recover. On the other hand, if you don’t finish the test, your score will be reduced greatly. Failing to answer five verbal items, for example, could reduce a person’s score from the 91st percentile to the 77th. Pacing is far more important.

• MYTH – The first 10 questions are critical and you should invest the most time on those items.

o Reality – All the questions count. It is true that the CAT algorithm uses the first 10 questions to obtain an initial estimate of your ability; however, that is only an initial estimate. As you continue to answer questions, the algorithm self-corrects by computing a new updated estimate based on all the items you have taken, and then administers items that are closely matched to this new estimate of your ability. Your final score is based on all your responses and considers the difficulty of all the questions you answered. Taking additional time on the first 10 questions will not game the system and can hurt your ability to finish the test.

o Swings used to be real big, now not as big

o Respond thoughtfully to each question


Landscape

• Trend: Volume for GMAT registration is up about 13 % with international volume up dramatically. Visit here for research and trends: http://www.gmac.com/gmac/ResearchandTre ... Volume.htm
• MBA Schools are pushing the early career initiative. Students with fewer than 2 years experience like Harvard’s 2 by 2 program.
o 10 years ago all you needed was 2 years of experience and schools are reaching out and courting younger MBA prospective students.
o There was a move to 4-5 years because schools could; the demand was high so they moved the barrier.
• Schools are not only going after the early career students, but also women and minorities.

Messages to younger students:

1. Age may not be a barrier anymore.
2. “Take your GMAT and put it into the bank” since the score is good for 5 years.

Studies/Graphs - see powerpoint
• Test Prep Works
o It pays to prepare in advance – basically to get higher improvements, it will take more hours and weeks.
• Retake Study – 18% retake
o 1 time per 31 days
o Gains + 31 pts avg. while 30% do worse

**Go to GMAC.com research and trends for all data

Check out MBA.com for Products:
• GMAT Prep: free, 2 timed tests (downloaded or CD)
• GMAT Review: update in late 08
• GMAT Paper Tests (3 tests in each package)
• Coming Soon: Diagnostic - Show how well in all areas compared to all test takers (new)
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• FAST – Finance Acct. Stats Test – coming soon
o Schools can use this to give to those execs not testing

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Re: GMAT Myths -- from GMAC Conference [#permalink] New post 09 Nov 2007, 14:47
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Praetorian wrote:
• MBA Schools are pushing the early career initiative. Students with fewer than 2 years experience like Harvard’s 2 by 2 program.
o 10 years ago all you needed was 2 years of experience and schools are reaching out and courting younger MBA prospective students.
o There was a move to 4-5 years because schools could; the demand was high so they moved the barrier.
• Schools are not only going after the early career students, but also women and minorities.

Messages to younger students:

1. Age may not be a barrier anymore.
2. “Take your GMAT and put it into the bank” since the score is good for 5 years.


So, as I understand it:

10 years ago, 2 years of experience was normal

Demand rose, schools moved the target to 4-5 years.

Now, schools are moving back to less experience.


Is that interpretation correct? If so, that's great news for me
:-D
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 [#permalink] New post 09 Nov 2007, 15:05
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great post....thanks for sharing
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 [#permalink] New post 16 Nov 2007, 09:30
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good to know. with my young age and 2 yrs experience i have thought i am away from getting into bschool in the US. High score in gmat, it is in my dreams now until i take gmat :)
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 [#permalink] New post 11 Dec 2007, 21:20
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gRR i better get a good score....... I deserve top 10 bschools is US/UK!!!
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Re: GMAT Myths -- from GMAC Conference [#permalink] New post 19 Mar 2008, 19:59
great post
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Re: GMAT Myths -- from GMAC Conference [#permalink] New post 25 May 2008, 22:50
wow thanks for the info!
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Re: GMAT Myths -- from GMAC Conference [#permalink] New post 01 Nov 2008, 11:48
Praetorian wrote:
GMAC Conference Notes - Also see attached Powerpoint presentation.
• MYTH – The first 10 questions are critical and you should invest the most time on those items.

o Reality – All the questions count. It is true that the CAT algorithm uses the first 10 questions to obtain an initial estimate of your ability; however, that is only an initial estimate. As you continue to answer questions, the algorithm self-corrects by computing a new updated estimate based on all the items you have taken, and then administers items that are closely matched to this new estimate of your ability. Your final score is based on all your responses and considers the difficulty of all the questions you answered. Taking additional time on the first 10 questions will not game the system and can hurt your ability to finish the test.


Hi guys,

I have a question relating to this point.

In the following link

http://www.mbapodcaster.com/MBA_MoreInf ... iEpisode=4

you can read:

One of the common myths is that the first ten items are really critical and, basically, determine your GMAT score. That’s not true.

said by Larry Rudner, Vice President of Research and Development at the Graduate Management Admission Council

To be honest, I don't know how to deal with these two facts :?

Opinions?

Cheers

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Re: GMAT Myths -- from GMAC Conference [#permalink] New post 18 Mar 2009, 09:44
Quote:
• MYTH – The first 10 questions are critical and you should invest the most time on those items.

o Reality – All the questions count. It is true that the CAT algorithm uses the first 10 questions to obtain an initial estimate of your ability; however, that is only an initial estimate. As you continue to answer questions, the algorithm self-corrects by computing a new updated estimate based on all the items you have taken, and then administers items that are closely matched to this new estimate of your ability. Your final score is based on all your responses and considers the difficulty of all the questions you answered. Taking additional time on the first 10 questions will not game the system and can hurt your ability to finish the test.


Thanks so much for posting this. I just read a certain prep book (which will remain anonymous) that told me to spend extra time on the first 10 questions, saying that if you get the first 10 questions right, you will rock out unless you absolutely fall off a cliff.

I downloaded the entire PDF and the graph from the CAT script was very helpful. Thanks again.

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Re: GMAT Myths -- from GMAC Conference [#permalink] New post 06 May 2009, 17:03
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BigObamaFan wrote:
Quote:
• MYTH – The first 10 questions are critical and you should invest the most time on those items.

o Reality – All the questions count. It is true that the CAT algorithm uses the first 10 questions to obtain an initial estimate of your ability; however, that is only an initial estimate. As you continue to answer questions, the algorithm self-corrects by computing a new updated estimate based on all the items you have taken, and then administers items that are closely matched to this new estimate of your ability. Your final score is based on all your responses and considers the difficulty of all the questions you answered. Taking additional time on the first 10 questions will not game the system and can hurt your ability to finish the test.


Thanks so much for posting this. I just read a certain prep book (which will remain anonymous) that told me to spend extra time on the first 10 questions, saying that if you get the first 10 questions right, you will rock out unless you absolutely fall off a cliff.

I downloaded the entire PDF and the graph from the CAT script was very helpful. Thanks again.


I just posted this on another thread

gmat-scoring-algorithm-my-observations-28493-80.html#p589172

Can you post the PDF and graph you are referring to?

Thanks
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Re: GMAT Myths -- from GMAC Conference [#permalink] New post 29 Nov 2009, 04:34
Thx for this great post. Especially for newbies like me it's good to have s.o. to answer to quite alot of those myths. :wink:
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Re: GMAT Myths -- from GMAC Conference [#permalink] New post 04 Jan 2011, 11:24
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Awesome post as always!

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Re: GMAT Myths -- from GMAC Conference [#permalink] New post 01 Sep 2011, 13:32
great post did help me clear my mind over a lot of concerns
Re: GMAT Myths -- from GMAC Conference   [#permalink] 01 Sep 2011, 13:32
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