Hi Everyone!

I was wondering if I could pick your brains, and get some advice from the people who have gone thru the full app process...

Apps close for my B. School [Classed as "Elite" with an avg. student GMAT score of 685 for 2011 admits] of choice close on:
Round 1: 14 Oct 2011
Round 2: 20 Jan 2012
Round 3: 27 April 2012

I am yet to sit the REAL GMAT, and my last CAT was a 630 (but I feel like I've already improved markedly in the 2 weeks since I've done it - probably at 660 level now)

I started filling out the application today, and will be approaching my referees in the next 2 days

THE QUESTION

- Should I back myself and book an exam on say, 9/9/2011, and if I butcher it, do a retake on say, 12/10/2011?

OR

- Should I give myself an extra 3 weeks of study, and back myself to get 680+ on my only shot, knowing that if I flub the test I take in late September, I can re-take in November, and apply in the 2nd round? If I do well, it gives me 3 solid weeks to focus on the actual application side of my application!

Apologies for the hypothetical test dates, the GMAC website is currently down!


I really wanna get an application off in round 1 (preferred school), and if I get rejected, apply to one of my alternate schools in round 2.

Preferred B. School - SBS @ Oxford
Alternate B. School - Judge @ Cambridge


Any and all advice is appreciated!
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Kudos always appreciated if my post helped you