GMAC has announced some interesting new GMAT score cancellation policies that will impact the way you take the test and shortlist your institutes. These include:
Prior to this announcement if you canceled your scores, you had 60 days from the date of your GMAT to decide that you really did want to have those scores on your record after all. (You also had to pay a $100 fee to reinstate those scores.)
Now, there is no time limit to reinstate canceled scores. As long as the score is still valid (5 years from the date of the test), you can reinstate the scores. Bonus: you’ll only pay $50 to do so, not $100.
If you do choose to reinstate scores and you can do this upto 4 years and 11 months from your test date, any schools to which you had previously reported scores will receive an updated score report at no additional cost to you. In effect, the $50 you are paying to reinstate will cover re-reporting your scores to any of your previously-selected schools.
Before today, you had 2 minutes at the end of the test to decide whether to keep or cancel your scores. If you chose to keep your scores, they were immediately and permanently put on your official record.
Now, you can take up to 72 hours after your test to decide whether to cancel. Take note of a potential fee, though. If you choose to cancel during the 2 minute period given immediately after the test, you won’t pay anything extra. If you choose to cancel within the 72-hour period after leaving the testing center, you will have to pay $25. After your GMAT score is reinstated, a score report will automatically be sent to the schools you selected on the day of your exam. Cancelled scores will not appear on any GMAT score report sent to schools. If you cancel your score, no one will know but you.
What does this cancellation policy mean with regards to your applications?
Despite this flexible cancellation policy you should take the GMAT keeping a fixed target score in mind. This will enable you to make your best decision as soon as you get the score
Here’s a pictorial representation of the changed score cancellation policy sourced from the GMAC site: