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Interesting advice from Marty, I am one of those guys who says ALL practice should be timed. The reason I say that, is that I see a lot of people doing all of their practice untimed or they don't know when they should transition from untimed to timed and start timing themselves. Instead, they do everything untimed taking 5 mins per question and then get shocked why their verbal score requires a magnifying glass.
I don't disagree with Marty - you want to get your foothold setup, but you should not be doing it untimed for more than perhaps 30% or 20% of the time. Timing provides a few values: 1) Stress and 2) Realistic conditions.
Don't shelter yourself too long or otherwise, it will be like practicing boxing on easy opponents and then going to face Mike Tyson. Make sure you get beat up a little or a lot along the way, it will be a more fair fight at the end.
While, clearly, jumping from untimed practice to taking the GMAT could be a bit of a shocker that wouldn't work out very well, I can say that I personally have gotten great results with little timed practice. What I have done is seek to develop skills strong enough that the time constraints imposed by the test are virtually irrelevant.
My approach to answering practice questions has involved three levels of accomplishment:
Level 1: Know basically how to answer a question.
Level 2: Know how to answer a question and answer it correctly.
Level 3: Know how to answer a question, answer it correctly, and answer it within the amount of time one would want to allot to that type of question when taking the test.
So, the game isn't to see how I do within the allotted time. The game is to see how fast I can accomplish Level 2. If I get to Level 2 within the allotted time, then I'm at Level 3. If it takes more than the allotted time to get to Level 2 for a particular question or question type, then I work on going from Level 2 to Level 3, while maintaining Level 2.
A key reason for doing practice untimed is that there is an emotional component, a going through the fire type of component, to arriving at a correct answer. If you constantly practice timed, you don't give yourself opportunities to experience that going through the fire component. It's so valuable to see a question, and go from the stress of feeling as if you have no idea how to answer that question to figuring out a way to answer that question time after time for question after question. After a while, you become the resourceful, confident hacker that you have to be in order to rock the test. Timed practice lets you off the hook. You don't have to fight your way to the correct answer. Time's up anyway. When you practice untimed, you have no out. If you don't arrive at the correct answer, you don't because you haven't seen what you had to see, you haven't been careful enough, or you have given up.
All that said, in my training to hit my score goal, I did take 15 to 20 practice tests. So, I did, of course, get some timed constrained practice that way.