This study sought to examine the relationship between five methods of test preparation and test performance as measured by Graduate Management Admission Test (GMAT) Verbal, Quantitative and Total scores. Data on method of test preparation were obtained through voluntary examinee response to five questions which appeared on the answer sheets. One sample of first-time test takers and one sample of second-time test takers were selected from among the 185,525 1981-82 GMAT examinees who were U.S. citizens. Multiple regressions using GMAT scores as dependent variables and test preparation, undergraduate grade point average (UGPA) and sex as independent variables were computed separately for first-time examinees who were members of the Afro-American/Black, Caucasion/White, Oriental/Asian and Spanish-American U.S. citizen subgroups. Results indicated that differences in GMAT scores do exist among examinees using different methods of preparing for the examination. However, it was shown that when initial ability, as measured by GMAT first score, was controlled, the sizes of the effects of studying the GMAT bulletin, working through an actual GMAT, and reviewing mathematics were not significantly different from zero. The effects of the methods on GMAT scores of first-time examinees were larger. However, the effects of test preparation are confounded with the characteristics of examinees who choose to use each method. (Author/BW)