We've seen a host of changes to the GMAT over the past bunch of years as the GMAT and GRE butt heads over MBA admissions test dominance. The new GMAT which came into effect April 16th will be 30 minutes shorter. The test has been compacted by simplifying instruction screens and by eliminating a portion of the non-scored (experimental) questions on both the Quant and Verbal sections. Quantitative Reasoning is now 31 questions over 62 minutes (from 37q/75min).
Verbal Reasoning is now 36 questions over 65 minutes (from 41q/75min). Test content and scoring remain the same. An updated version of the GMAT prep software incorporating the new format will be available on April 30th. We'll have in depth look at this new shorter GMAT and provide some suggestions for tackling it in a future blog post. Here's the shorter GMAT FAQ.

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