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Scores are given in increments of 10 (e.g. 545, 555, 565, 575, etc.). In 2023, for the GMAT Exam (Focus Edition), the score scale for the exam was adjusted to reflect changes in the test-taking population, which has become more diverse and global. Over the years, scores had shifted significantly, resulting in an uneven distribution.
The figure illustrates the percentile rank computation and shows how the 0.5 × F term in the formula ensures that the percentile rank reflects a percentage of scores less than the specified score. For example, for the 10 scores shown in the figure, 60% of them are below a score of 4 (five less than 4 and half of the two equal to 4) and 95% are ...
Either a GMAT score or a GRE score can be submitted for an application to an MBA program. Business schools also accept either score for their other (non-MBA) Masters and Ph.D. programs. The primary issue on which business school test acceptance policies vary is in how old a GRE or GMAT score can be before it is no longer accepted.
GMAT test scores for top business schools can average 730, with 700 considered the baseline. Less-competitive MBA programs accept GMAT scores in the low-600 range.
Tests taken before October 2004 were scored simply by the number of questions the test-taker answered correctly, with a range from 0-100. Scores using this metric have historically been known as "raw" scores. Tests taken in October 2004 or later had a score range from 200 to 600. The median score was 400, with a standard deviation of 25 points ...
The reason for the choice of the number 21.06 is to bring about the following result: If the scores are normally distributed (i.e. they follow the "bell-shaped curve") then the normal equivalent score is 99 if the percentile rank of the raw score is 99; the normal equivalent score is 50 if the percentile rank of the raw score is 50;
Test takers cannot "fail" a norm-referenced test, as each test taker receives a score that compares the individual to others that have taken the test, usually given by a percentile. This is useful when there is a wide range of acceptable scores, and the goal is to find out who performs better.
Meanwhile, average FICO Scores remain healthy, and increased by a point from 714 to 715 in 2023, which places the average FICO Score in the higher end of the good credit score range. A decade ago ...