I took the real test yesterday and I got a surprising 710 (Q49, V35).
I knew that my quant was very strong but I had a trouble with SC and it can easily be seen in my score.
If I study for a month I am almost sure that I can improve my score significantly.
Now the question is: Should I retake the test?
Great job man! "I think", this is a great score and should be more than enough for any school.
I know that you think you can "improve significantly", but based on what MANY individuals have experienced it may NOT all that be true. Lot of people have lucked out on the real GMAT - outlying their potential. I am, at NO means, implying that you can't, but based on your mock test score you definitely performed more than you expected in the real test. Check this thread out gmat-s-luck-factor-95184.html
on what I mean by being lucked out.
Just because you scored great in this GMAT, does not guarantee that you will improve it "significantly" in a "short" time. Once you start studying for all aspects of GMAT critically, you will realize there is a LOT more GMAT has to offer. The study process sometimes overwhelms you as you start thinking more and even worse start doubting yourself until you are fully prepared/ready. But having said that, I am NOT denying that everybody has different potential and there are outliers. My only indent here is to introduce the generally accepted reality by stating this general fact, which I have observed by reading experiences from all types of individuals in this and other forums for past 3 months.
If I were you, I would put this score in my bank and focus on the next steps. Primarily because you have just saved hundreds of hrs of preparation and head banging - you have EARNED that edge. If I were you, I would use this edge for my advantage. But if you think you don't trust me then that's fine - totally acceptable
. In that case, I would recommend you should take a GMATPrep 1 test under similar testing conditions and see if you can reproduce the score. Perhaps retake the same test 1 on another day; since you have not practiced, you will NOT see any repeats and that should give you accurate results. Hopefully, this exercise should tell you where you stand exactly. And you if can reproduce both times similar score, then prepare for a month and give GMATPrep 2 again after the month, and maybe you can ace with an 800
Good luck! Hope this help.