I have some more questions…
Oh really? But I am tired now. head to forums, there are hundreds of members eager to answer your questions.

My GMAT score split up is not balanced. Does it affect my admission chances at b-schools?

Elite (top) MBA programs expect a balanced score with minimum 80 % tile in both sections. Other b-schools do not set such criteria. Still you must confirm it with the prospective b-schools. Currently (July 2008), score above 34 in verbal & 43 in quant are above 80 percentile individually. These figures may change over the time.

Should I retake the test?

Giving general answer is difficult. Still I’ll try to address important points that you should consider while thinking of retaking the test.
It is foolish to expect a miracle of ’200 points increase’ in the GMAT score in your next attempt. Although it’s not impossible, it depends on lot of factors. If you have time and money, & if you feelyou did not perform at par your level; if your prospective b-school asks you to, or if you feel your GMAT score is not competitive enough. (‘feel’ & ‘competitive enough’ are very vague terms); andmost importantly, if your splits percentiles are unbalanced. & if your Most of the top b-schools demand balanced score. They definitely don’t want someone who’s extremely talented in quant but very poor in verbal.
However I can firmly tell you should NOT retake the test:
if your GMAT score is same or above your target MBA programs. …talking in numbers NO MBA program has a median GMAT score above 740 so you should not think of retake with above score. Above 740 GMAT certainly doesn’t remain the reason for your elimination, try to improve your other points of application instead.)

What if I retake the GMAT & score lesser than before?

Fortunately most of the b-schools consider the highest score. Some schools even consider the highest divisional score in quant & verbal. But you should always check with the prospective b-schools and learn their stand on multiple GMAT score.

When is the perfect time to retake the GMAT?

It depends on your b-school application schedule and how prepared you are. The more important question is whether you should retake the test or not.

How many no. of GMAT attempts are OK?

Define ‘OK’ first. It depends on how your prospective b-schools see it. …Taking GMAT 3 times in a year is considered very differently from taking 3 times in 6 years. Sometimes your multiple GMAT score could be detrimental to the overall application package; & sometimes it just doesn’t affect at all.

 What if I want to send (report) my GMAT score to more than 5 b-schools?

If you missed five free report sending opportunity during exam or if you want to send your score to more than 5 b-schools; you can do so by paying extra $28 per report any time after the test.Follow this link for more information.

What GMAC reports to MBA schools?

GMAC reports your GMAT score and your earlier GMAT scores history.

Hey wait, I am already done with GMAT! tell me, for how many years GMAT score is valid?

5 years.