#1 is not correct.
When you apply, you will self report both your quant and verbal scaled score (aka Q48, V41) and then you ALSO self report the percentiles (aka Q80%, V92%). So your percentiles stay with you for the life of the GMAT scores (5 years). The percentiles do slowly change over time, but the adcoms will give you credit for your percentiles that you recieved when you took the test.
Once you are admitted, you will have to send your school the scores (aka give them access online through MBA.com for I think $20) or if you chose the schools to which you applied to recieve the scores when you took the test, then they will double check to make sure your self reporting was true.
I hope this answers your question
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