What is a CAT exam?

Magic CubeOne of the most commonly misunderstood aspects of the computerized GMAT exam is its adaptive questioning and scoring system, known as CAT. Short for Computerized Adaptive Testing, CAT is a system designed to continually assess the test-taker’s aptitude and adjust the difficulty of the questions on the exam. A correct answer will yield a question deemed more difficult, while an omitted or incorrect answer will result in an easier next question. Put simply, the better you are doing on the exam, the harder it gets. Start to flounder a bit and the exam will take mercy, easing up on the harder stuff. Ultimately, a final score will be determined by two factors: number of correct answers and difficulty of those questions.

The exam begins by assuming you are of average aptitude, giving a first question of medium difficulty. If you get the first question correct, your second question will be more difficult, and, as a result, more valuable to your final score. Conversely, missing the first question will make the second question easier and thus less valuable. This varying difficulty and value creates a problematic scenario: early questions are more important than later questions. Omitting or incorrectly answering an early question will create a “score gap” that cannot be made up. In other words, messing up early on can cause a level of damage to your score that later questions are unable to salvage. Continue reading “What is a CAT exam?” »

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GMAT Quantitative Reasoning – Fun with Percentages

DrinkingA grad student possesses 5 liters of blood that is 0.16% alcohol by volume. If the grad student injects 2 liters of blood in a ritual to improve his research results, his new blood alcohol content will be approximately what? Continue reading “GMAT Quantitative Reasoning – Fun with Percentages” »

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GMAT Math Example Problem

Today we’ll be solving a GMAT Math Word Problem. Consider the following question:

Tickets for all but 10 seats in a 500 seat theater were sold. Of the tickets sold, 20% were sold at half price, and the remaining tickets were sold at the full price of $6. How much revenue was generated from ticket sales? Continue reading “GMAT Math Example Problem” »

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Michael recently graduated from Rice University with a B.A. in Chemistry. When he’s not educating people on the fact that you can indeed get a B.A. in a STEM field, Michael enjoys doling out unsolicited advice regarding college admissions. In his non-Testmasters life, Michael enjoys complaining about new movie releases and actively campaigns for people to watch The Wire.

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More Fun With Ratios

Well, since the last ratios problem seemed to be such a huge hit, I thought you guys might like another one. This ratios problem is not really mathematically that much more difficult than any other, but the wording of the problem sometimes gives people fits. I often find that the most difficult part of any math problem on any standardized test is not the actual math but the translation from word problem to math problem. Anyway, here it is.

Jonathan needs to mix 1 part bleach for every 5 parts water to make his cleaning solution. While he’s mixing the solution, he makes a mistake and mixes in half as much bleach as he should have. The total solution is 44 mL. How much bleach did Jonathan put into the solution?

Continue reading “More Fun With Ratios” »

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Fun with Ratios — Quantitative Reasoning Example Problem

Hope everyone had a fun Halloween! Let’s kick off November with a super fun ratios problem.

The ratio of men to women in a room is 5:6. If there are 121 people in the room, how many of them are men?

This is a pretty basic ratios problem, and there are several ways to solve it. The method I’m going to use is based on algebra, and it’s probably the easiest to remember.

Continue reading “Fun with Ratios — Quantitative Reasoning Example Problem” »

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3 Tips on Writing a Great Statement of Purpose

A strong statement of purpose can push a business school application from solid to phenomenal. A statement of purpose is an opportunity to express exactly what is motivating you to pursue an MBA. In fact, it’s often one of the only opportunities you’ll get to express this very important life decision. Your GMAT score doesn’t say it; your references may make some passing mention of it; your college transcript might provide some hints; but it’s your essay that allows you to tell a school directly – this is who I am, and this is what I want to become.

And at its very core, that is exactly what your statement of purpose should say. This is who I am. This is who I want to become. This is why I have chosen your institution to help me reach my goals. Continue reading “3 Tips on Writing a Great Statement of Purpose” »

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What is a CAT exam?

CATAs the name suggests, a Computer Adaptive Test (CAT) is a test that is administered through a computer rather than on pencil and paper. But CATs like the GMAT are a bit more complex than their pencil-and-paper counterparts. Let’s look at the big differences between CATs and traditional paper-and-pencil tests that you may be used to seeing.

Continue reading “What is a CAT exam?” »

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GMAT Math Solutions: Data Sufficiency

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Wharton School of Business

Wharton School of Business

 

 

 

America’s first business school, the Wharton School of the University of Pennsylvania is also one of the best business schools in the world, consistently ranked in one of the top three spots on Financial Times‘ ranking of Global MBA programs. Students from the Wharton School are CEOs of American Airlines, UPS, Johnson & Johnson, Paypal, and Time, Inc. Among the most famous alumni of Wharton are Donald Trump, Warren Buffett, and Elon Musk.

Admissions are understandably competitive. Out of 6,408 applicants, only 837 students were accepted into the class of 2014, giving Wharton an acceptance rate of 13.1%. Of those, 42% were women, and 37% were international students. For the class of 2014, students scored from 560 to 790 on the GMAT, with the median score being 720. In addition to fantastic test scores, Wharton students, on average, have extensive work experience, with 5 years being the median and only 19% having 3 years or fewer of work experience.

These 837 qualified students come from all sorts of different undergraduate majors and fields of industry. A surprising 44% of accepted students majored in a humanities or social science field, which is way more than the 27% who majored in business in their undergraduate programs. Out of the remaining 29%, 24% majored in a STEM (Science, Technology, Engineering, and Math) field, and 5% majored in some other program. After receiving their bachelor’s degrees, most accepted students spent around 5 years earning industry experience, with the greatest percentage working in consulting. Other notable fields of industry are private equity/venture capital, consumer products, and investment banking.

However, one prohibitive aspect of attending Wharton is the tuition and living expenses such a decision entails. Tuition alone is $59,736, and with living costs, Wharton projects total expenses of $97,080 for its standard MBA program. For their MBA/MA Lauder Program (detailed below), total expenses sum to around $136,630. Financial aid and fellowships are available, but most students finance their Wharton experience through loans.

The curriculum of the Wharton Full-time MBA program is built around a core of 6 classes that are fundamental to all business management. There are two options for this core, the fixed core and the flexible core. The fixed core offers more structure around the six classes of teamwork and leadership, marketing, operations, microeconomics, regression analysis, and advanced topics in managerial economics. The flexible core allows for choices in content, timing, and format. The 18 different majors and 200+ electives revolve around the core curriculum. In addition to these choices, Wharton students can also choose to take classes at UPenn’s 11 other professional schools.

Wharton not only offers flexibility in its MBA curriculum, but also provides something called the Wharton Executive Coaching Feedback Program. This program allows students to receive 1-on-1 coaching and mentorship all year long. Another innovative program that Wharton offers is its international exchange program with business schools around the world. In an effort to give students insight into global business and finance, Wharton partners with schools such as London Business School in the U.K., Keio University’s Graduate School of Business in Japan, Guanghua School of Management in China, and INSEAD in France.

In addition to their standard MBA program with international opportunities, Wharton also offers the Lauder Program for students fluent in a foreign language. The MBA/MA – Lauder Program awards an MBA as well as an MA in international studies. Furthermore, there is a integrated three-year MBA/JD program that grants an MBA and a law degree from Penn Law. Wharton also partners with Penn School of Engineering and Applied Sciences to offer an MBA/MB in Biotechnology, as well as offering an MBA in Health Care Management.

As one of the world’s best and oldest institutions, Wharton School of Business provides innumerable opportunities and connections for those who are admitted. Wharton’s MBA is not only very prestigious but also very flexible, allowing for students to pursue a variety of interests in fields from biotechnology to law.

Learn about other Top MBA Programs here.

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