In 1953, the organization now called the Graduate Management Admission Council (GMAC) began as an association of nine business schools, whose goal was to develop a standardized test * GMAT to help business schools select qualified applicants. In the first year it was offered, the assessment (now known as the Graduate Management Admission Test GMAT ), was taken just over 2,000 times; in recent years, it has been taken more than 200,000 times annually. Initially GMAT used in admissions by 54 schools, the GMAT test is now used by more than 1,500 schools and 1,800 programs worldwide.
Until the end of 2005, Educational Testing Service (ETS) developed and administered the exam. On January 1, 2006, GMAC transitioned vendors to a combination of ACT Inc, which develops the test questions and CAT software, and Pearson Vue, which delivers the GMAT exam at testing centers worldwide.