The exams test your knowledge of such things as how to calculate the duration of a bond and the ethics of accepting a stock tip.

FORBES: Analysts for the world

Looking at applicants through a narrow vocational lens may deter schools from accepting riskier candidates, such as entrepreneurs or career-switchers, in favor of more sure things, such as aspiring management consultants, Mr. Richmond said.

WSJ: B-Schools Want to Know: Are You Employable?

One of the biggest things you can do to improve your lot in life is to negotiate a better salary before accepting a job.

FORBES: Negotiate Your Salary At The Outset