GMAT Math Example Problem – Word Problems & System of Equations

GMAT Math Example Problems

A junior investment banker is paid hourly for her work at Sisyphus, Inc. If her current hourly rate were to be increased by $300, 30 fewer hours of work could be bought for $10,000, excluding income tax. What is her current hourly rate?

This is a particularly tricky problem that requires us to not only figure out just what exactly is trying to be said, but also requires us to set up a system of equations for our two unknown variables. Continue reading “GMAT Math Example Problem – Word Problems & System of Equations” »

Posted in Example Problems, Quantitative | Tagged | Leave a comment

Part-time vs Full-time vs Executive MBA – What is the Difference?

Part time MBA vs Full time MBA vs Executive MBA

When applying to business school, one of the first things you should carefully consider is what type of MBA program you should pursue. There are two traditional MBA paths: part-time and full-time, and a more modern option known as the Executive MBA (EMBA), which is usually offered for a couple of days a week over two school years, making it almost a hybrid of full and part time courses. Learn more about each to determine the best option for you.

Traditional Full-Time MBA

Traditional full-time MBA programs are usually the first ones that come to mind when someone says they are going to attend business school. Students in a full-time MBA program will usually complete their entire program in two or fewer years, are usually expected to live near or at the school they attend, and will face a more demanding and rigorous course schedule. And while you will not be able to work, there are significant advantages to pursuing a full-time MBA program over other options. Perhaps the most significant is the increased likelihood of receiving financial aid. According to the GMAC, of the full-time MBA programs, 94% have merit-based scholarships, 41% have fellowships available, and 55% provide assistantship positions, like that of a Teacher Assistant. Another perk of full-time programs is the availability of internships over the summer between academic semesters. This is a great way to get your foot in the door of a business before you graduate. You also have more flexibility in the courses you choose, and people from more backgrounds are usually accepted into a full-time program.

Instead of a two-year commitment, you could condense your full-time MBA into a single year, but this will require you to take more highly specialized classes rather than choosing from a selection of business and elective classes. These programs also do not allow enough time to complete an internship, but you will finish your studies in half the time. Depending on your career goals, a single-year full-time MBA might be the best option for you.

Traditional Part-Time MBA

If you find that you cannot spend two years away from your job, consider a traditional part-time MBA. These programs allow you to continue to work full-time during the week while offering you classes at nights and on weekends. For the average student, it could take up to five years to finish a part-time MBA program.

Aside from being able to take classes outside of a traditional work week, part-time MBA programs are also easier to gain admission to because these programs typically have lower GPA and GMAT requirements than full-time programs. 

Executive MBA (EMBA)

The Executive MBA program is almost a hybrid of part and full time courses, but the biggest difference is that an EMBA requires several years of business experience. Most people who enter these types of programs have been in the workforce for at least 10 years and are usually in their 30s or 40s. The structure of EMBA programs is usually all day on Fridays and Saturdays for two years, which can take a toll on those with obligations outside the office either to their families, volunteer duties, or leisure activities. Due to the rigor of this program and the frequent company sponsorship of students, the financial expenses of an EMBA often exceeds other types of MBA. Since many companies often pay at least some of the price for their employees to go through this program to get a work promotion, you will likely not have to pay the entire cost yourself.

Regardless of the type of MBA program you choose, consider how much time you have available to devote to your education and job. Do you need to work full time or can you take MBA classes full time? Are your GMAT scores and GPA high enough to get into a full-time program, or should you seek easier admission into a part-time MBA? The answers to these questions and many others will help you to narrow down your choices before finalizing your decision on an MBA program that will fit into your lifestyle and career. Regardless of which option you choose, let the experts from Testmasters help you to prepare for your business school admissions exam.

Posted in FAQs, Program Profiles | Tagged , , , | Leave a comment

How Do I Sign up for the GMAT?

Applying to business school entails several steps, of which the most is taking the GMAT exam. Almost all business schools accept the GMAT for the purpose of admission, though some will also accept the GRE. If an MBA is in your future, you will want to focus on GMAT preparation.

Sign up for the GMAT

There are a few things you should do when it comes time to sign up for the GMAT exam. First, and foremost, read through the terms and conditions in the GMAT handbook. You will have to agree to these before signing up for an exam. If you have not done so already, select which business schools you are interested in attending. These should be the school where you want to send scores to after you finish your test. Do a bit of research to see if your practice scores fall into the expected score range of students in the MBA programs at that school. The school should also help you to fulfill your personal career goals.

For the exam application process, if you have any special needs, those must be settled with the GMAC before you sign up for an exam. For more information about special accommodations testing, see the GMAT’s page to “Register as a Test Taker with Disabilities.” The documentation for any accommodations should be in place before you sign up for the exam.

The first step in the sign up process is to create an account on the GMAT’s website. This will allow you to see electronic scores, do extra practice, and sign up for a test date. Once logged in, go to the official GMAT registration page to find a location and testing time that will work with your schedule. Make sure that the date allows you enough preparation for the test and occurs at least three weeks before your business school application is due. It usually takes 21 days for schools to get your GMAT scores. You will also need to pay the full exam fee of $250 when you register.

While you are waiting for your test date, consider how you will get your mind ready to tackle the test. Test preparation depends making the most of your study time. Do you need help from a teacher in a classroom environment or will individual help on specific questions be a better choice to help you optimize your score? Think about signing up for a full GMAT course from Testmasters or registering for individual tutoring sessions. You should never take the GMAT exam without being completely ready for it. The first time you take the exam should not be the first time you have ever seen GMAT material. With preparation courses and tutoring, you can help to make sure that the first time you take the GMAT, your score will be your personal best.

Once registered, you should receive a confirmation letter. If the information on this letter is incorrect in any way, you must change it before the exam by contacting the GMAC; otherwise, you will not be admitted into the testing facility.

Signing up for the GMAT is the easy part, putting in the preparation for the exam and your future MBA program is the more challenging part.

Posted in FAQs, New GMAT | Tagged , , | Leave a comment

GMAT Example Problem – Multiple Variables

GMAT Math Example ProblemsIf each of the x employees of a tech startup produces one unit of false hope every t minutes, how many units of false hope does the startup produce in a standard 17 hour workday?

This type of problem expects us to express a relationship between multiple variable by writing an equation that translates what our word problem tells us. This will likely be much easier if we simply choose values for each of our variables as we work through the problem. Continue reading “GMAT Example Problem – Multiple Variables” »

Posted in Example Problems, Quantitative | Tagged | Leave a comment

GMAT vs GRE – Which One Should I Take to Get into B-School?

Should I take the GRE or GMATThe GMAT and GRE are both accepted by many business schools now, but which one you should take is a personal decision that depends on your individual areas of strength and weakness. Though many schools use test scores from either exam – and in some cases allow submission of scores from both exams –  sending the test that best showcases your abilities is the best option.


GMAT for Business School

Up until the GRE was revised in 2012, the GMAT was the only test you could submit when seeking admission into an MBA program. Business schools would use your GMAT to see how you directly compare to other applicants. To help you select a school based on your scores, schools would release ranges for the GMAT. After the GRE was revised, the GMAT added the integrated reasoning section, and otherwise sets itself apart with data sufficiency questions and the prohibition of a calculator on the math section. If you are certain that you want to go to business school and not seek another degree, take the GMAT, as doing so lets schools know that you are committed to obtaining your MBA.

GRE for Business School

While in the past, many MBA programs refused to accept GRE scores, that is no longer the case. The GRE, or Graduate Record Exam, is the general admissions exam for students applying to graduate school. Students who are uncertain about going to business school or graduate school should take the GRE as it has much broader applications. Educational Testing Services (ETS), the company that makes the GRE, wants everyone to know the usefulness of the exam. That is why it puts on its website a listing of the business schools that accept GRE and GMAT scores for admission. When comparing the GMAT and the GRE, keep in mind that the GRE has a second essay, a greater emphasis on vocabulary, no integrated reasoning section, and you can use an on-screen, four-function calculator for the math section. It also includes quantitative comparison questions on the math section, and does not have the data sufficiency question type found on the GMAT.

When considering whether the GRE exam is a good test for your desired business school, of particular note and consideration should be any restrictions the university may have. For example, some business schools will accept the GRE (and sometimes even the LSAT) if you completed that exam more than six months prior to your application; otherwise, they might require the GMAT. It is always a good idea to check with the universities you will apply to when before making any substantive decisions.

If you are looking to get into business school, the good news now is that you have a choice of exams to take. Testmasters has help available. The experts at Testmasters offer courses and individual help for both GRE and GMAT test takers.

Posted in FAQs, GMAT vs. GRE | Tagged , , | Leave a comment

GMAT Math Example Problem – Word Problem

GMAT Math Example Problems

If Keynes was three times as old as he is now, he would be 10 years younger than Hayek. If Hayek is 50 years older than Keynes, how old is Keynes?

This word problem tests our ability to assign variables to unknown quantities and translate the relationships described between these variable into equations. Our first step is to identify the unknown quantities and assign a variable to each. Generally, for age problems such as this one, our unknowns will be the current ages of the people involved. In this case, let K represent Keyne’s current age and let H represent Hayek’s current age. Now we must determine what relationships are described between these two people’s ages and create an equation for each relationship.

Our problem states, “If Keynes was three times as old as he is now, he would be 10 years younger than Hayek.” In other words, if we multiply Keyne’s age by 3, we would get the same number as if we subtracted 10 from Hayek’s age, or:

Next, we are told that Hayek is 50 years older than Keynes, or that if we take Keyne’s age and add 50, we get Hayek’s age:

This gives us a system of equations. Of the two most common methods for solving a system of equations (substitution and elimination), substitution seems to be the easiest method for this system. As such we will substitute K + 50 in for the H in our first equation, since we know these two quantities to be equal. This gives us the following equation:

We then solve algebraically for K:

This gives us our final answer: Keynes is currently 20 years old.

Ask Testmasters

Have a question? Ask the experts at Testmasters!

Interested in more GMAT Example Problems? Find them here!

Need help preparing for the GMAT? Look no further than the test preparation professionals at Testmasters!

Posted in Example Problems | Tagged | Leave a comment

How do I get into business school without work experience?

Can I get into Business School with no work experience

A lack of work experience might not keep you out of Business school.

Work experience is an important part of your application for business school. If you don’t have work experience, you may find it to be more difficult to get into business school, but it is not impossible. If you intend to go to a full-time one or two-year program, you will need to have work experience. The course schedules for these programs often do not allow for work during the school year, but the two-year program does give you a summer off to do an internship. Part-time programs offer a little more flexibility because you can work full time while taking classes.

Your work experience can include internships or paid jobs, but perhaps more important than just working before business school is the type of work. Being a business leader in whatever job you have can reflect well on your business school application, but if you don’t have work experience of any sort, don’t worry. Business school applications have multiple parts for a reason. Your recommendations, GMAT score, GPA, work experience, and essay all play a role in whether or not you get into a school. You may be able to get into business school without work experience if you excel in other areas of your application, but keep in mind that some programs, especially the top schools, often require several years of experience in the business world before applying, with many schools’ admitted students having an average of about five years of work experience. If you would like to go to a top tier school, we would strongly recommend working first. However, if you are more concerned with convenience and location, your work experience may not be as large of a factor in your admittance into your school of choice. Just keep in mind that it is possible to “balance out” your application – if you are lacking in certain areas, like having no work experience, you just need to make sure you excel in other parts of your application.

To make your application shine if you don’t have work experience, you will want to focus on getting a great GMAT score as well as finding important people to write your recommendations. While Testmasters cannot write a recommendation letter for you, we can help you with improving your GMAT score to put your best foot forward when you apply to business school.

Posted in Tips from the Admissions Office | Tagged , | Leave a comment

What if I don’t like my score? Can I get canceled scores back?



How Do I Cancel a GMAT Score?

As soon as you finish your GMAT, you have the chance to see your unofficial score. Before you leave the testing center, you have only two minutes to decide to keep this score (verbal, quantitative, and integrated reasoning) or to cancel it, which keeps it from ever appearing on your score report. You must make an active decision during this time frame because if you do nothing, the system treats it as a score cancellation. If you accept the score, the center will print out your unofficial score and give it to you when you leave. Then, you have another 72 hours to go online and cancel your scores, but if you choose to cancel after the exam, it will cost $25 dollar. The option of canceling your scores gives you more control over what business schools see. Although there is a fee involved, this is a good option because it allows you the opportunity to see your unofficial score before cancelling.

Why Should I Cancel a GMAT Score?

The decision to cancel your scores should not be taken lightly. You will not receive a refund for your testing fees if you choose to cancel your score, and the two-minute score preview at the end of your GMAT will be the last time you see your score unless you choose to retrieve it later for an additional fee. Previewing and canceling your scores is a good chance to revoke your test results if you feel that your GMAT score for that day is not an accurate reflection of your abilities. If you wish to retest, you must wait for 16 days before taking the GMAT again.

What If I Change My Mind About Canceling My Score?

Should you change your mind about canceling your score, you do have a chance to reinstate it, which will also give you a chance to see your score again. You will only have 60 days after the exam to get your score back, and it will cost $100 to do so. Once 60 days have past, your scores are permanently gone, and you will not get them back.

Do Business Schools See How Many Times I Have Canceled My Scores?

Only scores that you personally cancel will not show up on your score report, which includes all your GMAT scores from the past five years. Should there have been any test irregularities such as violations or technical failures and the GMAC cancels your scores, those will still appear on your report as a “C.” If you cancel your score but have it reinstated, there will be no indication on your score report that this happened. A business school will not be able to differentiate a reinstated score from scores you chose to keep at the end of your exam.

Do you want to get a GMAT score that you’ll want to keep? It starts with preparation. The test prep experts at Testmasters can help you to get the score you want the first time you take the exam. Make an investment in your future by choosing a Testmasters GMAT course or one-on-one tutoring to get the best possible score on the GMAT.

Posted in FAQs, GMAT Scores | Tagged , , | Leave a comment

Testmasters Testimonials: GMAT Online Course

Testmasters offers one of the most comprehensive and popular GMAT online courses available. Every Testmasters online course comes with the same materials, lectures, and Score Increase Guarantee (100 points for the GMAT) the corresponding classroom course. View a sample video, take directly from the GMAT online course, below:

Here’s what people are saying about Testmasters:

“Starting a family left me little time to prepare for the GMAT, so I made the most of it with the Testmasters’ online GMAT course. The flexibility of watching videos and taking practice tests during my free time were critical to my success. I was able to increase my score from 590 to 730. Thanks Testmasters!”

-Dan H.

“I took a test GRE about two months ago and bombed the quantitative (a 142 – 12%!). I’m 37 and hadn’t opened a math book in almost 20 years, so the prep books were just hieroglyphics. After hearing you were the best, I called in. Yesterday, I scored a 155 (60%) — my target Q score — meaning your tutors helped me jump almost 50% of test takers in just two months with only eight very reasonably-priced sessions. I’m simply overjoyed.

If I may say: my math instructor was fantastic and made math, for the first time in my life, actually interesting to learn.

Thank you, “Test Masters,” for living up to your name.

-Matt P.

“Testmasters is all about great teachers, a ton of course material, and helping you score high. I went from a 550 on the GMAT to a 710! I love you guys!”

-Brenda V.

Learn more about the Testmastesr GMAT online course here!

Posted in Uncategorized | Tagged | Leave a comment

GMAT Math Example Problem Inclusive Multiples

GMAT Math Example ProblemsHow many multiples of 3 are there between 15 and 81, inclusive?

For a problem like this, it may be tempting to simply count out all the multiples of 3 by hand. While this would work, it would certainly not be the most efficient method. We can use a pattern to simplify our work. The first question we should ask ourselves is, “How often do multiples of 3 show up?” The answer to this, unsurprisingly, is that multiples of 3 show up every third integer. This tells us that we will want every third integer between 15 and 81. To calculate this, we find one-third of our total amount of integers:

Unfortunately, we are not quite finished. When we subtracted 15 from 81 above, we inadvertently left out one of our integers, specifically one of the two endpoints. Since 15 and 81 are both multiples of 3, we can’t leave either one of them out. As such, we have to add that missing integer back into our total:

This gives us our final answer of 23.

Ask Test Masters

Have a question? Ask the experts at Testmasters!

Interested in more GMAT Example Problems? Find them here!

Need help preparing for the GMAT? Look no further than the test preparation professionals at Testmasters!

Posted in Example Problems, Quantitative | Tagged | Leave a comment