Hi tans22,
A V40 is a high-level performance in the Verbal section - and requires that you have a certain amount of knowledge (grammar/idiom rules, CR patterns, etc.), organizational skills (proper note-taking for CR and RC and using Tactics to take advantage of the built-in patterns that exist in all GMAT questions) and the ability to actively read. Based on the information that you've provided, it's likely that you are 'narrowing the answers down to 2 choices and then "guessing"' a bit too often (and that's costing you points.
Before I can offer you the specific advice that you’re looking for, it would help if you could provide a bit more information on how you've been studying and your goals:
Studies:
1) How long have you studied in total? How many hours do you typically study each week?
2) What study materials have you used so far?
3) On what dates (or approximate dates) did you take EACH of your CATs/mocks and how did you score on EACH (including the Quant and Verbal Scaled Scores for EACH)?
Goals:
4) What is your overall goal score?
5) When are you planning to apply to Business School and what Schools are you planning to apply to?
GMAT assassins aren't born, they're made,
Rich