Definition
The Graduate Record Examination (GRE) isn’t a financial term, but an standardized test many grad schools require for admission in the United States and many other English-speaking countries. It measures your critical thinking, analytical writing, verbal reasoning, and quantitative reasoning skills — skills developed over a long period of time that aren’t related to any specific field of study. The test is administered by the Educational Testing Service (ETS).
Phonetic
The phonetic pronunciation for “Graduate Record Examination (GRE)” is:- Graduate: /ˈɡrædʒueɪt/- Record: /rɪˈkɔːrd/- Examination: /ɪɡˌzæmɪˈneɪʃn/- GRE: /ˈdʒiː ˈɑːr ˈiː/
Key Takeaways
Sure, here are three main points about the Graduate Record Examination (GRE).“`html
- Widely Accepted: The GRE is a standardised test that is accepted by a large number of graduate and business schools across the globe. This test is often a requirement for admission to postgraduate programs.
- Evaluates a Range of Skills: The GRE measures a variety of skills including verbal reasoning, quantitative reasoning, critical thinking, and analytical writing. Therefore, it provides a comprehensive assessment of a candidate’s capabilities and potential for success in graduate programs.
- Computer-based Test: Generally, the GRE is administered as a computer-based test which can be taken at test centers worldwide. However, a paper-based version is also available in areas where computer-based testing is not possible. The scores are valid for five years after the test date.
“`
Importance
The Graduate Record Examination (GRE) is not primarily a business/finance term but an important standard test often required for admission into graduate or business school. It is designed to evaluate your readiness for advanced academic work by assessing your analytical writing, verbal reasoning, and quantitative skills. Its importance lies in the fact that many universities consider GRE scores as a key criterion in their admission process. Hence, a higher score on the GRE can significantly increase your chances of getting accepted into prestigious programs. For some business schools, a strong GRE score might also make candidates eligible for merit-based scholarships and financial aid, highlighting its significance in the business/education landscape.
Explanation
The Graduate Record Examination (GRE) serves a crucial role in the academic journey of students planning to study in most graduate schools in the United States and many other English-speaking countries. Primarily, the GRE is used for assessing the potential of candidates for succeeding in a graduate school program. It tests areas such as verbal reasoning, quantitative reasoning, and analytical writing skills, which are not related to any specific field of study, while some subject tests evaluate proficiency in particular fields like physics, psychology, or literature.Graduate school admissions committees use GRE scores as a standardized measure to compare applicants from differing educational and cultural backgrounds. It allows the committees to gauge the applicant’s readiness and ability to carry on high-level coursework. As a significant part of the admissions process, a high score on the GRE can help a student stand out among the competition. Furthermore, some scholarship and fellowship programs also require GRE scores as part of the eligibility criteria, thereby highlighting its wide-ranging influence within the realm of graduate education.
Examples
1. Princeton Review: This well known educational services company uses the GRE in order to help assess the knowledge and verbal, mathematical, and analytical skills of applicants who are aspiring to take up graduate studies. They provide GRE preparatory classes, resources, and practice tests to help students increase their chances of gaining high scores.2. ETS (Educational Testing Services): ETS is the official organization that administers the GRE. They assist students and educational institutions by setting the exams, marking them, and distributing the scores to the right institutions. They also conduct research and create policies around the exam.3. University Admissions: Many universities across the world, like Harvard, NYU or Oxford, use GRE scores as a part of their admissions process for various graduate programs. Certain program-specific admission committees may weigh GRE results more heavily than others, making it a crucial determinant of the candidate’s acceptance into the program.
Frequently Asked Questions(FAQ)
What is the Graduate Record Examination (GRE)?
The Graduate Record Examination, or GRE, is a standardized test utilized by many graduate schools in the U.S. and other countries as part of their admissions process. It measures candidates’ verbal reasoning, quantitative reasoning, critical thinking, and analytical writing skills.
Who conducts the GRE?
The GRE is administered by Educational Testing Service (ETS).
Is the GRE required for all graduate programs?
No, not all graduate programs require the GRE. It’s best to check the specific application requirements for each program you are interested in.
What format does the GRE take?
The GRE can be taken on a computer or in a paper-format. The computer-based exam is adaptive, meaning the difficulty of the questions adjusts based on the test taker’s performance.
What types of questions are asked in the GRE?
The GRE includes Verbal Reasoning, Quantitative Reasoning, and Analytical Writing sections. The type of questions varies from multiple-choice to writing tasks based on prompts.
How can I prepare for the GRE?
ETS offers official GRE study materials that can help you prepare. Practice tests, prep courses, and private tutoring are also popular ways of studying for the GRE.
How is the GRE scored?
The GRE’s Verbal and Quantitative sections are scored between 130-170, and the Analytical Writing section is scored between 0-6.
How long is the GRE valid for?
GRE scores are valid for five years from your test date.
Can I retake the GRE if I’m not happy with my score?
Yes, you can retake the GRE after a 21 day waiting period, up to five times within any continuous rolling 12-month period.
When should I take the GRE?
It’s typically recommended to take the GRE one year before you plan to apply to graduate school to allow yourself enough time to retake the exam if needed and to have your scores sent to your prospective schools.
Related Finance Terms
- Test Preparation
- Verbal Reasoning
- Quantitative Reasoning
- Analytical Writing
- GRE Score Report
