Everytime I do my Cat practive tests. I NEVER finish all 37 questions in Quantitative or all 41 questions in Verbal. I'm wondering in situations when I have 2-3 questions remaining and virtually no time left, would it be better to sit and wait for time to run out or guess the last remaining questions? I read somewhere which suggests the penalty getting answers wrong is higher than unanswered questions.
Also before the real Test day, would it be advisable to do a Cat test just prior to the real GMAT? Would it be a good warm up or will it burn you out?
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Definitely, guess and do not leave it blank! It might be helpful to practice pacing now, so you can finish the test (and go into the test with the confidence that you know you will finish!). Spend less time on the ones you don't know throughout the test, so you have time at the end. Know what you know and know what you don't know, so if you see a question that you don't know, you can guess and move on. Also, pace yourself as you are taking the test, so you can better manage your time. For example, know that by 30 minutes remaining, you should be on question #?. I made a chart that helps me and I write it on my notes when I take the test, so I can be more aware of pacing issues and can adjust while taking the test. I hope these tips help, even just a bit!