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For those of you embarking on your journey to graduate school, one of the biggest hurdles is the standardized testing requirement. But which test should you choose - the Graduate Management Admissions Test (GMAT) or the Graduate Record Exam (GRE)?

Great news for all those tech savvy individuals out there! GMAC is launching an official GMAT mobile phone application. One common complaint from those undergoing GMAT revision is lack of time to prepare for the exam. This is not surprising, as many GMAT takers are young adults constantly playing a balancing act and juggling busy work schedules, social activities, applying to Business Schools, revising for GMAT as well as coping with home and family life.

MYTH– If I don’t get above a 680 on my GMAT I will not be able to get into a good school.

FACT - Think about it: Do you have any idea how few people actually achieve an 800 on their GMAT? Out of more than 200,000 people who take the GMAT less that 50 will achieve an 800. It’s next to impossible. The odds are very much against you. In fact, only 1% of people taking the GMAT will score a 760 and above. The average GMAT test taker gets only around 540. Make sure you have a realistic aim and remember that your GMAT score is just one part of the application procedure.

Just about a year from now, GMAC will launch the Next Generation GMAT. Starting in June 2012, right in between admissions cycles for most US business schools, test-takers will be scored on a new Integrated Reasoning section.