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CedricJ
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Concentration: Finance, Strategy
GMAT 1: 630 Q39 V38
GMAT 2: 710 Q49 V39
GMAT 3: 720 Q47 V42
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First of all, congratulations on the nice score. On one hand, I'm sure you could bump that score to a 730 or 740 with some reasonable, strategic study. On the other hand, I'm not sure you need to. Your quant score is solid, and your composite score is solid. If you did retake, improving your verbal score would be a good goal. You may just choose to spend your time and energy perfecting your applications. Do you have someone to help you?
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CedricJ
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Thank you for the kind replies. No, I don't have anyone helping at this time.
Official score came in: 710, Q49, V39, IR 7, AWA 5.0

I have decided to retake, and that will happen in about 3.5 weeks. This decision is based largely on the ability to cancel the test score, which greatly reduces the downside of the decision.

The cons:

-$250 for the exam
-$25 for the ESR
-$50 for Exam Pack 1
-$100 for Hotel
-$75 for gas, food, and misc.
-($500 total)
-1 Month of additional study time instead of focusing on the rest of the application process.

The pros:

-Better score
-Ability to cancel if:

-Lower total score
Or
-Lower quant score with higher verbal score, arriving at same total score

-Closure on whether higher score could have been reached



I might consider closure to be the strongest reason for the retake, because this will be the last attempt no matter what score is earned.

I would like some opinions on the following:

Let's say I score a Q48, V41 and assume a 720...would accepting this score hurt more than help? (Or even a Q47, V42, also assuming a 720) If this scenario happens, I want to be ready to make the quick decision on whether to cancel. Please help.

Thank you!
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Your opportunity cost is way more significant than the financial cost. How much do you value an hour of your time and how many hours do you plan to spend one studying? The product of these numbers is your opportunity cost. What benefit did you think a higher score will give you?

I thought cancelling a score was simply an option that GMAC provided to test takers to encourage them to take more tests, resulting in more revenue. Not sure why you'd want to cancel your score if it's higher than the previous score.

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CedricJ
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My opportunity cost is heavily out-weighed by the potential scholarship money that may be influenced by a higher score and by the potential improvement in chances of admission.

Perhaps canceling a higher score is, indeed, a ridiculous thing to even consider. However, my question is based on how an adcom might view a high quant score in contrast to a high verbal score, and the fact that a 720 won't mean much, if at all, in comparison to a 710.
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Hi CedricJ,

You've now added the information that you're interested in Scholarship money, so before you invest all of that time, money and effort in retaking the GMAT, you should probably research the various Scholarship options for your specific Program at McCombs. Since you've already scored 710/Q49, a 720 or 730 would likely make little difference to the strength of your overall application. In that same way, unless there's some big Scholarship advantage to scoring higher, there's likely no reason to retest.

As an aside, did you have to travel and spend the night in a hotel before you took your last GMAT?

GMAT assassins aren't born, they're made,
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CedricJ
My opportunity cost is heavily out-weighed by the potential scholarship money that may be influenced by a higher score and by the potential improvement in chances of admission.

Perhaps canceling a higher score is, indeed, a ridiculous thing to even consider. However, my question is based on how an adcom might view a high quant score in contrast to a high verbal score, and the fact that a 720 won't mean much, if at all, in comparison to a 710.

I mentioned opportunity cost because you listed financial cost which I think makes up an insignificant component of the overall cost of re-taking the exam for you. If you think spending the time studying for the GMAT this time around is going to make you a lot of money, go for it.

For admission-related questions, perhaps the application forum would be a more appropriate place to ask.
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