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Unlike certain tests, the GMAT does not have specific test dates. Rather, the GMAT, like the GRE, can be taken at any time that you are ready and you are able to reserve a spot at a nearby testing center.

Therefore, the answer to when you should take the GMAT is: you aim to take it when you are fully prepared and in time for the application deadline of the programs you are interested in. The advice of the test makers is to schedule your GMAT for a date that is “at least 21 days prior to your application deadline.”