Hi BhavyaBudhia,
First off, your 710/Q50 is an outstanding Score, so you can comfortably apply to any Business Schools that interest you. As such, a retest is probably not necessary. You're ultimately asking Admissions questions though, so 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 some anecdotal evidence that this type of 'administrative review' is happening more often with Test-takers who score 700+. Assuming that you did not actually break any of the standard Test-taking rules, then you will likely have your Official results released in 1-2 weeks (although it might take longer than that based on the backlog of Exams that need to be reviewed). In the meantime, you should reach out to an Admissions Expert to discuss your plans - and if it is determined that you ultimately "need" a much higher GMAT Score to apply to the Schools that you are interested in, then continuing to study would be necessary regardless of how long this administrative review went on.
GMAT assassins aren't born, they're made,
Rich
Contact Rich at:
[email protected]