The Basics. And What's New?

1) One of the first things you should do is go through this helpful overview of the GMAT exam in an infographic! (In case you can't view the image clearly, see it here).

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2) And then read the GMAT Handbook, downloadable from this page.

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3) Try your hand at some sample questions to understand what each section is about:

• AWA: Here's a sample AWA question along with the answer
• IR samples here.
• Quant:

a) Problem Solving

Directions 

Solve the problem and indicate the best of the answer choices given. 

Question 

If u > t, r > q, s > t, and t > r, which of the following must be true? 

I. u > s
II. s > q
III. u > r

• (A) I only 
• (B) II only
• (C) III only
• (D) I and II
• (E) II and III 

Find the answer here.

b) Data Sufficiency

Directions 

This data sufficiency problem consists of a question and two statements, labeled (1) and (2), in which certain data are given. You have to decide whether the data given in the statements are sufficient for answering the question. Using the data given in the statements, plus your knowledge of mathematics and everyday facts (such as the number of days in July or the meaning of the word counterclockwise), you must indicate whether:

• Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient to answer the question asked.
• Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient to answer the question asked.
• BOTH statements (1) and (2) TOGETHER are sufficient to answer the question asked, but NEITHER statement ALONE is sufficient to answer the question asked.
• EACH statement ALONE is sufficient to answer the question asked.
• Statements (1) and (2) TOGETHER are NOT sufficient to answer the question asked, and additional data specific to the problem are needed.

Question 

If a real estate agent received a commission of 6 percent of the selling price of a certain house, what was the selling price of the house? 

(1) The selling price minus the real estate agent's commission was $84,600.
(2) The selling price was 250 percent of the original purchase price of $36,000. 

• (A) Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient. 
• (B) Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient. 
• (C) BOTH statements TOGETHER are sufficient, but NEITHER statement ALONE is sufficient. 
• (D) EACH statement ALONE is sufficient. 
• (E) Statements (1) and (2) TOGETHER are NOT sufficient.

Find the answer here.

• Verbal

a) Reading Comprehension

Directions 

The questions in this group are based on the content of a passage. After reading the passage, choose the best answer to each question. Answer all questions following the passage on the basis of what is stated or implied in the passage. 

Question 

Schools expect textbooks to be a valuable source of information for students. My research suggests, however, that textbooks that address the place of Native Americans within the history of the United States distort history to suit a particular cultural value system. In some textbooks, for example, settlers are pictured as more humane, complex, skillful, and wise than Native Americans. In essence, textbooks stereotype and depreciate the numerous Native American cultures while reinforcing the attitude that the European conquest of the New World denotes the superiority of European cultures. Although textbooks evaluate Native American architecture, political systems, and homemaking, I contend that they do it from an ethnocentric, European perspective without recognizing that other perspectives are possible. 

One argument against my contention asserts that, by nature, textbooks are culturally biased and that I am simply underestimating children's ability to see through these biases. Some researchers even claim that by the time students are in high school, they know they cannot take textbooks literally. Yet substantial evidence exists to the contrary. Two researchers, for example, have conducted studies that suggest that children's attitudes about particular cultures are strongly influenced by the textbooks used in schools. Given this, an ongoing, careful review of how school textbooks depict Native Americans is certainly warranted.

Which of the following would most logically be the topic of the paragraph immediately following the passage?

• (A) specific ways to evaluate the biases of United States history textbooks 
• (B) the centrality of the teacher's role in United States history courses
• (C) nontraditional methods of teaching United States history
• (D) the contributions of European immigrants to the development of the United States
• (E) ways in which parents influence children's political attitudes 

Find the answer here.

b) Critical Reasoning

DirectionsFor this question, select the best of the answer choices given.

QuestionThe cost of producing radios in Country Q is ten percent less than the cost of producing radios in Country Y. Even after transportation fees and tariff charges are added, it is still cheaper for a company to import radios from Country Q to Country Y than to produce radios in Country Y.

The statements above, if true, best support which of the following assertions?

• (A) Labor costs in Country Q are ten percent below those in Country Y.
• (B) Importing radios from Country Q to Country Y will eliminate ten percent of the manufacturing jobs in Country Y.
• (C) The tariff on a radio imported from Country Q to Country Y is less than ten percent of the cost of manufacturing the radio in Country Y.
• (D) The fee for transporting a radio from Country Q to Country Y is more than ten percent of the cost of manufacturing the radio in Country Q.
• (E) It takes ten percent less time to manufacture a radio in Country Q than it does in Country Y.

Find the answer here.

c) Sentence Correction

DirectionsThis question presents a sentence, part of which or all of which is underlined. Beneath the sentence you will find five ways of phrasing the underlined part. The first of these repeats the original; the other four are different. If you think the original is best, choose the first answer; otherwise choose one of the others.

This question tests correctness and effectiveness of expression. In choosing your answer, follow the requirements of standard written English; that is, pay attention to grammar, choice of words, and sentence construction. Choose the answer that produces the most effective sentence; this answer should be clear and exact, without awkwardness, ambiguity, redundancy, or grammatical error.

QuestionWhile larger banks can afford to maintain their own data-processing operations, many smaller regional and community banks are finding that the cost associated with upgrading data-processing equipment and with the development and maintenance of new products and technical staff are prohibitive.

(A) cost associated with
(B) costs associated with
(C) costs arising from
(D) cost of
(E) costs of

Find the answer here.

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3) The GMAT has changed a bit since I last gave it.
a) AWA

• There's only 1 essay to write now, and you get 30 minutes for it.
• Download a sample of AWA question topics from here.
• And if you're not sure how well you will do on AWA and really really want to get official feedback, you can buy the GMAT Write tool for $30 and get exactly that.

b) IR

• There's a whole new question area - Integrated Reasoning (IR) - where you have to answer 12 questions in 30 minutes.
• And if you want more practice, this is an online IR Prep Tool by mba.com that you can buy for $20 here.

c) The Quant and Verbal section remain the same - 75 minutes each, with 37 math questions and 41 english ones (phew! finally something I can relate to!)

d) You can now Preview your score before you accept or cancel it! You have 2 minutes at the end of the exam where they show you your unofficial score (except AWA) and you have 120 seconds to decide if you will press accept (and report it to 5 b-schools) or cancel it.

e) There's a new thing called Enhance Score Report which allows you to get more details about your official GMAT exam. This is only useful if you have to re-take the GMAT.

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5) We'll have to figure out which books to buy, because obviously everything I own is from 2010. Need to research this! And see if buying a bundle turns out to be cheaper. And compare prices on Amazon & Flipkart.

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6) Once you have the books with you, the first thing to do is take a practice test. It's still called GMATPrep, and here's the link to download the test for free. Take the first test to get your base line score (and plan your focus areas to study accordingly), and for future reference - DO NOT TAKE THE SECOND TEST RIGHT NOW. Take it after a couple of weeks, once you start taking full-length practice tests. You'll get a good estimate of how you will do on the actual GMAT using this second test (since it has real questions from previous GMATs). Treat this second test like a precious baby. Don't use it too soon! [There's a new product: GMATPrep Exam Pack 1, which contains 2 additional full-length exams as well as Enhanced Score Reports on the 2 exams from GMATPrep. Priced at $50, you may want to buy it only if you really need it.]

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7) Research apps to download. This is a whole new world! Here's a starting point.

BONUS! Here's an interactive timeline by the people at mba.com to help you prepare for the GMAT. And another introduction to the GMAT by the folks at BTG (Beat The GMAT!).