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The Next Generation GMAT launches in June 2012. The biggest change is that the issue essay will be replaced by an Integrated Reasoning section designed to measure your ability to evaluate information from multiple sources. Unlike the rest of the exam, this section will not be computer-adaptive. It will also have its own score scale which will be released in April.
Integrated Reasoning will feature four new question types that can include sortable tables, graphs and information about situations. The idea is to measures skills that are more similar to those used in business school.
Should you take the current GMAT or wait for the new test? The answer depends on your situation.
Planning to apply for admission to business school in the fall of 2012 or 2013?
Go ahead and take the test as soon as you feel prepared. For the next two years, business schools will expect most candidates to apply with the current GMAT.
Want to avoid the unknown?
Take the GMAT now. You don't know how the Integrated Reasoning section will impact your score.
Hoping to bank your GMAT score for a few years?
Then, we recommend taking the Next Generation GMAT. Most of the other applicants (aka your competition), will have taken the new exam and, even though scores are valid for five years, there's a good possibility that a school might ask you to retake the test so that they can compare your Integrated Reasoning score to that of other applicants.
Next Generation GMAT: How Is It Different?
Introduction - GMAT Integrated Reasoning Section
GMAT Multi-Source Reasoning Question Type
GMAT Graphics Interpretation Question Type
GMAT Table Analysis Question Type