You are correct - shenoydevika.

However let me say that although I will have to search the Official questions, based on what I have seen from the statistics I doubt that you will see this word used this way on the GMAT. My impression is that it causes what is - to be completely honest - Totally Unnecessary Confusion! There are many synonyms that can be used that do not confuse people. Why not just say "think" or "believe" or even "anticipate"? Why confuse people with an unnecessary word.

Let me also add that the beauty of the Veritas question bank is that it gives you access to many new questions and it also allows your voice to be heard. By simply trying your best on these questions you help to shape future Veritas questions and tests.

As pointed by Charu on the usage of "suspect" as noun.
Is it right form to have a preposition followed by a verb?
I may be wrong on this but ins't a prepositional phrase is always to + noun/pronoun form.

Please advise.

This is a common formulation:

'reason to suspect'

'reason to believe'

'reason to doubt'

Just google "reason to believe" and see how many entries there are. This is not an improper usage. Now if you were saying "I will drive TO THE STORE" then you are using a standard preposition. However, "I have reason TO BELIEVE that you are very smart" is a proper sentence.