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[#permalink]
tuanis,

Since you are aiming for a PhD in Finance rather than a MBA, have you thought about taking the GRE? Most business schools with PhD programs will accept GRE scores. In fact, some of those schools prefer the GRE over the GMAT (don't ask me why).

From what I have heard (I can't vouch for it since I've never taken the GRE), the GRE quant section tends to be easier than the GMAT quant section. The percentile scores are definitely easier to achieve: a 800 score on the GRE quant is only worth a 92 percentile whereas a 60 on the GMAT quant is worth 99+ percentile!

I would also suggest that your GMAT quant score wasn't bad at all. Most people here would love to have the scores you had (upper 40s on quant / 700+ on the total score). Your quant score of 47 (83%) is roughly equivalent to a 760 (83%) score on the GRE quant -- which is a very good score :)

My advice is to see what the score requirements or range is for the schools you are interested in are. If you think that your scores meet or exceed those requirements, then you can relax and not worry about retaking the GMAT. If you are still anxious, then you can see if you should take the GRE instead and/or you can take all of the wonderful advice offered on this site about the GMAT.
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