On April 14, GMAC announced the launch of the GMAT Online exam, a remote proctored test that candidates would be able to take at home. A live proctor will observe the candidate at all times and will be available to help through the webcam and microphone.
Similar to the traditional version, GMAT Online will include the Quantitative, Verbal and Integrated Reasoning sections, in this exact order, but will omit the Analytical Writing Assessment, making it 30 minutes shorter.
The sections are as follows:
The exam will use the same scoring algorithm and scale as the traditional version. The big difference is that there will be no score preview at the end of the exam. The official score will be sent via email within 7 business days of the test. It is therefore advised to wait until the official results to select programs to send the scores to. The registration fee of $200 (which is $75 less than the traditional exam) includes five score reports to selected schools. There is no additional fee for choosing first five schools after the exam.
Exam sittings are available 7 days a week, 24 hours a day. Currently, appointments are available April 20 till June 15. The fee to reschedule, up to 24 hours before the exam, is $25, and cancellation up to 24 hours before the exam will result in a refund of $100. No changes or refunds can be requested within 24 hours of the scheduled test.
There is a restriction to take the GMAT Online exam only once, however, it will not count towards the annual or lifetime limits on taking the traditional GMAT exam.
Because of the data privacy rules, the GMAT Online is not offered in Mainland China, Cuba, Iran, North Korea, Sudan or Slovenia.
Despite the excitement it caused in the market of business school candidates, the take-at-home exam is advertised as a short-term, interim solution that is not intended to be offered continuously going forward. Vineet Chhabra, senior director and head of the GMAT product, said, "we have put [it] in place to meet the needs of our stakeholders which are the test takers and the schools at a time when they are impacted by the COVID-19 virus. The current situation needed a solution and we wanted to be there to deliver it as quickly as possible. These are uncertain times that we are all facing.” Specifically, the take-at-home exam is recommended for candidates who still aim to enroll in the fall of 2020.
Interestingly, the decision to reduce the exam fee by $75 is not only explained by the omission of the AWA section. It is a business decision linked to the fact that the GMAC has been losing market share to the rival GRE over the years. In 2019, 40% or more of the enrolled MBA students opted for the GRE instead of GMAT. The early release of the take-at-home GRE exam in March has likely cost GMAC more than $10 million in lost revenues.
