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If you feel like you can improve, then I would recommend taking the exam again. A 700 is a fantastic score and will certainly not keep you out of any Bschool, but as you likely know, it is a little bit below average for the top schools. Since you mentioned that your GPA isn't the best, you may want to counter it with a top GMAT score. If you can improve your verbal, you may end up with a 730+ GMAT score.
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