EssaySnark clarifies, yes the GMAT is only good for 5 years, and some schools count the 5-year cutoff at date of
matriculation not date of application. So that narrows the window even further, since you'd need to have +/-1 year of "life" left on the GMAT when you apply. EssaySnark actually had a client get caught in a bind because she was admitted to a school based on her self-reported score, and then the 5-year date ran out -- and the school had not yet received the offical score from GMAC. She had to jump through major hoops to get it all fixed. So don't take it too early or you may find you need to retest only because the score expired, which is a true bummer of a reason to have to go through that miserable experience again.
But yes, if you're planning on applying to 2+2 (Spain's IESE also has a similar program called Young Talent where you'd apply as a junior -- well worth exploring), then you'd take the GMAT next year -- or even in spring of '12. Or, keep in mind that you maybe should take the GRE instead. The GMAT is preferred if you're only going to try for bschool. If you're actively considering other graduate programs including polisci, then no, you won't want to take the GMAT, you need to take the GRE. Some insights into the pros/cons of GMAT vs GRE are laid out for you here
https://essaysnark.blocked/2010/06/ ... s-pox.html.
Good luck with it!
