F1GMAT: The best strategy to get in your GMAT prep mode is to fix a date for your GMAT exam. Now many things can happen on the GMAT test, you might exceed your expectation, you might get + or -20 on your estimated score or you might bomb your test. Whatever it might be, we as human beings have excellent intuition. We usually know which three scenarios mentioned above might happen to us. Based on our intuition , we have two choices, to cancel the score or accept the score.
Canceling the Score
You should follow the basic three rules for canceling the score:
1) You will have the motivation, time and money to retake the GMAT again
2) You would not be happy with another school with lower standard of admission
3) You are certain that with the current score you would not get into the top 3 schools that you have selected in your list.
Implications of canceling the score
All events related to your GMAT exam would be under a single record. Even if you cancel or retake the exam, it will be recorded. Now what are the implications of canceling your score on your admissions? A single cancellation of score can be justified with lack of preparation, illness or other relevant circumstances. However, if you are canceling the score more than once, it shows a certain lack of discipline that can negatively affect your admission process.
Keep in mind that you can take the GMAT exam only once every calendar month. So while canceling the GMAT score, think about the time that you have for your MBA admission essays and recommendation letter.