The GMAT is a widely accepted business school entrance exam. At many of these universities and colleges, the GMAT is a significant element to the admissions procedure onto an MBA or MiM program. For example, if you’re applying to top-ranked business schools abroad, a GMAT score is a prerequisite. However, at many international business schools, a GMAT score isn’t mandatory for admission, though a high score can earn you extra points from the admissions team.