Hi Dbdollyb,
To start, a 700/Q48 is an outstanding Score, so you can comfortably apply to any Business Schools that interest you. As such, a retest might not be necessary. Depending on the Schools that you plan to apply to, you would likely find it beneficial to speak with an Admissions Expert about your overall profile and plans. Those Experts should be able to answer your Admissions questions and help define the specific areas of your profile that could use some improvement. There's a Forum full of those Experts here:
https://gmatclub.com/forum/ask-admissio ... tants-124/There's no harm in continuing to study though, but it's worth noting that a 740+ Score requires a really high level of 'precision' - and you will almost certainly need to make adjustments to how you handle BOTH the Quant and Verbal sections.
Each CAT/mock is really a 'measuring device' - when used correctly, it will give you a realistic score and help define your strengths and weaknesses, but it will NOT help you to fix any of those weaknesses. To raise your scores, you have to learn the necessary Tactics and put in the proper practice and repetitions - and then take your CATs in a fashion that matches-up with how you will take the Official GMAT (in as many ways as is reasonably possible). The CAT will show you whether your studies are helping you to improve or not.
While the most realistic CATs available are the 6 from GMAC, retaking a CAT that you've already taken is NOT a realistic way to assess your skills - since you will likely see some 'repeat' questions that you have already faced. Unfortunately, seeing even a couple of repeats can 'throw off' the Scoring Algorithm and impact your pacing, energy levels, fatigue, etc. (meaning that they would likely all appear to be better than they actually are). Thankfully, the CATs from Kaplan,
MGMAT and Veritas are all 'close enough' to the real thing that they will provide you with a relatively realistic score assessment (assuming that you correctly take the CAT in a realistic fashion that matches the parameters that you will face when you take the Official GMAT) - so you can use any NEW CATs from any of those sources next.
Before I can offer you any additional advice for your studies, it would help if you could provide a bit more information on how you've been studying and your goals:
1) What type of study routine have you followed over the last year? How many hours did 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)?
4) When are you planning to apply to Business School and what Schools are you planning to apply to?
If you took your Official GMAT at a Test Center, then you might also choose to purchase the Enhanced Score Report. While the ESR doesn’t provide a lot of information, there are usually a few data points that we can use to define what went wrong on Test Day (and what you should work on to score higher). If you purchase the ESR, then I'll be happy to analyze it for you.
GMAT assassins aren't born, they're made,
Rich