GRE stands for Graduate Record Examinations. This test basically tests the abstract thinking skills of the examinee in the areas of mathematics, vocabulary and analytical writing.
GRE used to be paper based but from 1992, introduction of GRE CAT came into the scenario. But from August 2011, GRE CBT was introduced.
Data shows that scores on the GRE General Test consistently predict graduate school students' grades and performance.
Any graduate, business or professional school, or any department or division within a school, may require or recommend that its applicants take the General Test, a Subject Test, or both.
If approved by the GRE Board, an institution seeking accreditation can also receive candidates scores.
The General Test is offered year-round at computer-based test centers in the U.S., Canada, and many other countries.
It's recommended to invest time in preparing for GRE, as it can help in admission to a good graduate school.
In addition to all that GRE is imperative as it is the source used by agencies to give grants based on merit.