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Second Try's a Charm

Not all people achieve their goal scores on the first try. In some cases, that's pure nerves. Even if you are sufficiently prepared to get a700, the stress of unfamiliar surroundings might prevent you from reaching that goal.

If you take the test again, most of that stress should have dissipated. There won't be any surprises at the test center, and you'll have a better idea of what kind of mental stamina the GMAT requires.

Can I Really Improve?

The GMAC reports that the average GMAT re-taker experiences a modest improvement, but some of those people spend months prepping between tests. The "average" may not apply to you.So you need to decide as to what is best for you.

Plan For your test

It's important to start thinking about that second test date even before you set your first test date. Remember that you can't take the GMAT more than once every 31 days. If you want to have the "second try safety valve," you need to plan ahead.

Schedule your first attempt at the GMAT at least six weeks ahead of your first application deadline. (And don't forget to give yourself plenty of time to study! It defeats the purpose if you rush to study for the first attempt.) Then, if you don't reach your goal, you can schedule another test date for 31 days later and still get your applications in on time.

Continuing with your study:

In those 31 days, keep studying, and remember to spend some time on every aspect of the GMAT. Even if you got a fantastic score on one part of the test, continue to review that content.

If you've identified some content areas in which you are weak, obviously you'll want to hone in on those. And if stress was the problem, more practice tests must be taken. But regardless of how you spend your time, don't neglect any part of the exam.

On the Application

Many business school applications simply ask for one GMAT score. A large percentage of top schools take only your best score. In other words, you have nothing to lose by retaking the test, except for some study time and the $250 exam fee.

If you get a higher score the second time around, no one ever has to know about your earlier attempt. If you don't manage to improve your score, you're no worse off than you were before you retook the test.

I hope that you get the score of your dreams on your first try. But be realistic: Plan for the possibility that your dreams might take a bit longer to materialize.