GMAT is undergoing a significant revision within the next few months. In June 2012, the GMAT will introduce an integrated reasoning section, testing concepts that have not been tested before on the GMAT. The current version of the GMAT has a verbal section, a quantitative section, and two essays. The new version will drop one of the essays and replace it with an integrated reasoning section.
What does this mean for you? If you are reading this and are applying to the Fisher SMF program for autumn 2013, you can either take the GMAT before or after the changes are implemented – the program does not prefer one over the other. As long as your scores are valid scores, they can be used as part of a complete application. Remember that scores are good for up to five years from the time you take it so if you took it in February 2012 for your autumn 2013 application, those scores will be valid for your autumn 2013 application.