Some of the best business schools offer an online MBA, no GMAT required. Not long ago, getting into a top business school meant studying for months to prepare for the Graduate Management Aptitude Test (GMAT). Similar to how undergraduate admissions departments use the SAT, the GMAT provides graduate programs with a broad picture of a candidate’s academic strengths. The exam tests an applicant’s ability to reason, solve quantitative problems, and understand communication. The exam takes more than three hours to complete, and typically requires a great deal of studying.