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I think the best questions to ask are the ones that you generally want answers to. So much of the b-school application is focused around trying to get into the highest ranked school, or focused on doing everything possible to get into whatever schools you have picked. But at some point it helps to take a step back and think, "Wait a minute, what is this going to be like for me on a day to day basis. What will my classmates be like? When is winter break? Where am I going to live?" and as you do research you start to get a better idea of what life will be like at that school, but this will also raise more questions and some of these could be good questions to ask the interviewer. Things like, "I know that Jack Welch teaches a class, I imagine there are a lot of people signing up for that class, is there a lottery system?" "Aside from the spring technology trek, are there other international travel opportunities that people take advantage of?" "In one of the student journals on the school website, a student mentioned that they had a chance to sit in on a United Nations conference as part of a club trip, is that something that blah blah blah..."
So I guess basically just read and re-read the school's website until things catch your interest or curiosity, there's bound to be stuff that you want to know more about.
I don't know this question was good or not but this (apart from other common questions) is what I asked in all my interviews. My long term is to be an entrepreneur so I asked "Apart from Alumni, how X school is going to help me?" Say for example if I want to get a market research then rather than going to an independent market research company I would like to go to X schools, which is trusted and in which I have full faith. Do your school has such facilities and how many of graduates do such thing?
I don't know my interviewer liked it or not. In my opinion you should ask questions based on your goals and preferences.
I thought I would bump this post to add some questions I read somewhere else. These, for the most part, seemed like decent general questions. They're targeted at an alum who is living abroad, but some of them could be tweaked for student/adcom/domestic use.
If you can't make a visit, then ask each school's admissions office
to put you in touch with an alumnus or alumna from that school who
lives in your country, and get in touch with him/her (preferably not
a person with whom you interviewed so that you can get a different
perspective or two). Good questions might be something like:
For what is your school well-known (finance/marketing/etc.)?
What do you think are your school's strengths?
If you could change anything about your school, what would it be?
How is an MBA from your school perceived in this country, and how does it compare in prestige and pportunity with an MBA from either of the other two schools I'm considering?
Do you still keep in touch with classmates from your school?
Do you still keep in touch with any faculty from your school?
What opportunities did your school open up to you?
How helpful/effective is your school's career/placement assistance department?
What part of your MBA did you find the most fun / challenging / eye-opening / etc.?
If you were to consider business schools now, to which of these three schools would you apply and why?
These are just a few, and there are many more that will depend, again, on your own interests.