There are several ways to prepare for business school, including studying for different exams and familiarizing yourself with various concepts and materials. The following topics will touch on the different exams and ways you can study and prepare yourself for admission into the business school of your choice.
Business School Audio Study Material & Prep
When choosing a career path, knowing the best way to prepare for the schooling you will endure is key. Acceptance into a business school is a prestigious accomplishment and will pave the way for a successful career in business with the appropriate resources and guidance gained via MBA admissions.
Overview of Different Entrance Exams
Entrance exams are one of the most common forms of admission requirements, regardless of the chosen degree path. For business admissions, several exam scores will be taken into consideration during admission.
GMAT
One of the most common and necessary exams for business school preparation is the Graduate Management Admission Test (GMAT). With a total possible score of 800, the GMAT is crucial for business school admission and can take nearly 4 hours to complete. It tests you on the following four components:
- Analytical writing to assess problem-solving and critical thinking skills
- Integrated logical reasoning to assess data analysis abilities
- Mathematical and quantitative reasoning to assess numerical comprehension
- Verbal and deductive reasoning to assess reading comprehension
GMAT scores are considered an adequate indicator of an applicant’s academic ability to perform well in business school. As a result, the GMAT score plays a significant role in admissions. Additionally, some career paths, like project management consulting or investment banking, may require GMAT scores during employment consideration.
GRE
The Graduate Record Examinations General Test (GRE) is another exam commonly utilized for business school admissions. The GRE can also take up to 4 hours to complete and tests in four main areas:
- Analytical writing session, broken into two sessions
- Quantitative reasoning session, broken into two sessions
- Verbal reasoning session, broken into two sessions
- A variable session that is unscored with experimental questions
While the GRE is less specialized than the GMAT, it is accepted by many business programs. However, for those strictly seeking admission into business programs, the GMAT may be the better choice.
CPA
Applicants who desire to become Certified Public Accountants (CPAs) will need to take the Uniform CPA Examination (CPA Exam). Unlike the GMAT or GRE, the CPA Exam is not required for business school admission but is valuable for those specializing in finance. The CPA Exam contains four sections:
- (AUD) Auditing and Attestation
- (BEC) Business Environment and Concepts
- (FAR) Financial Accounting and Reporting
- (REG) Financial Regulations
The CPA Exam extends over a total of 16 hours and takes roughly 6-12 months to complete.
Test Preparation: Study Guide & Prep Course Options
Given the cost and importance of high scores on exams such as the GMAT, GRE, and CPA Exam, it is recommended to use study guides and prep courses. The GMAT, in particular, is challenging with a pass rate of less than 10%. For non-native English speakers, the TOEFL Exam may be necessary to prove proficiency before taking the GRE or GMAT.
Study options include test prep videos, workbooks with practice questions, live online courses, and in-person prep classes.
Audio Business School Exam Prep
Repetition is key to retention. One of the best ways to ensure that you are retaining your preparation course is to transfer your study material to audio. A text-to-speech tool like Synthy can be extremely helpful. Synthy can turn books or study guides into audio content, compatible with iOS, Chrome, and Android.
For hard copies of study guides, Synthy offers OCR scanning to convert photos of reading materials into audio. Open the Synthy app, capture photos of the pages, and convert them into your podcast link.
Synthy’s ability to turn your test prep materials into audio content is beneficial for those with busy lifestyles. Study while working out, running errands, or walking the dog.
FAQ
What tests do you need for Business School?
While admissions professionals claim no preference between the GRE and GMAT, the GMAT is often taken more seriously in career choices after business school.
What’s the difference between GMAT and GRE?
The GMAT and GRE are similar, but the GRE allows you to skip and return to questions, whereas the GMAT does not.
What’s a good GMAT score?
A GMAT score between 650 and 690 is considered good, while anything over 700 is exceptional.
What’s the best GRE test prep?
Top providers of GRE test prep courses include Magoosh, Kaplan, Manhattan Prep, and The Economist.
What study prep is there for the CPA exam?
Top-rated CPA Exam review study courses include Becker CPA Review, Gleim CPA Review, Roger CPA Review, Ninja CPA Review, and Surgent CPA Review.