You will see your score for the quantitative and verbal sections the moment you finish the exam but your official GMAT score report will be available within 20 calendar days after you take the test.
If you cancel more than 7 days prior to test date, you will get a refund of USD 80. If you cancel within 7 days of the test date, you will not get any refund. So, it is better to reschedule than to cancel.
After taking the exam you are given the choice of cancelling your score without seeing it. If you choose to do so, the score is lost forever but it gets reported on all subsequent score charts that you had cancelled an exam.
GMAT is accepted in a lot of Indian Business schools like ISB, IIMA (PGPX), IIMC (PGPEX), SP Jain, Great Lakes, etc.
Yes, you can apply to the universities based on your provisional scorecard that you receive on the day of the test. But only if the university waives the requirement and as long as you are able to send the official score once it is out before the university’s admission deadline.
Most of the Universities take the best score. However, it is best to confirm the same from a particular university before applying.
No, not all the MBA programs outside India. But to seek admission into the reputed Business Schools, especially American Business schools, one has to have a GMAT score. Moreover, it is better to have a GMAT score on your resume as it enhances one’s profile.