Familiarise yourself with the structure and specifics of the GMAT and GRE admission tests.
As with many post-secondary educational degrees, some Masters degree programmes require a certain score on a standardized admissions test. The first thing you will need to do is find out which test your degree programme requires and the minimum score that must be obtained for admission. There is a fee to sit most standardized tests. You must register and pay for the exams in advance, as test centres allow only a limited number of students per session.
If you plan to study in the U.S., some schools require that your application include a standardized test score such as the GMAT (Graduate Management Admissions Test) or the GRE (Graduate Records Examination).
Most standardized testing organizations will provide test takers with some sort of practice materials to help them prepare. These materials typically review the topics covered by the tests, as well as including practice quizzes and exams.
In addition to the materials provided by the testing organizations, there are a variety of test preparation materials produced by other organizations. There are even classes available to help you prepare. You can purchase books and study guides online and in bookstores. Most of these publications are very similar, and give you the chance to practise from a wealth of materials.
Tests measuring professional abilities
CFA - Chartered Financial Analyst
Is an international professional designation offered by the CFA Institute of USA (formerly known as AIMR) to financial analysts who complete a series of three examinations. Candidates must have a Bachelor’s degree (or equivalent), be in the final year of their Bachelor’s degree programme, or have at least four years’ qualified, professional work experience in order to take the exams. To become a "CFA Charterholder", candidates must pass all three exams and agree to comply with the code of ethics. CFA charterholders must also agree to adhere to a strict Code of Ethics and Standards governing their professional conduct.
CPA – Certified Public Accountant
Certified Public Accountant (CPA) is the statutory title of qualified accountants in the United States who have passed the Uniform Certified Public Accountant Examination and have met additional state education and experience requirements for certification as a CPA. In most U.S. states, only CPAs who are licensed are permitted to provide to the public attestation (including auditing) of opinions onfinancial statements. The exceptions to this rule are Arizona, Kansas, North Carolina and Ohio where, although the "CPA" designation is restricted, the practice of auditing is not.
Tests required for professional and graduate programmes
The Graduate Record Examination (GRE) measures your ability to handle graduate-school level work through verbal, quantitative, and analytical reasoning questions.
The Graduate Management Admissions Test (GMAT) was created and is administered by the Educational Testing Service (ETS). It is designed to help graduate business schools assess the qualifications of applicants for advanced study in business and management.