When you take the GMAT and TOEFL depends a lot on when you want to start b school. Most Round 2 application deadlines for top US business schools are fast approaching (or already past), so time is kind of running out for a 2011 start. Some lower-tier schools might accept applications into next year.

But realistically, will probably need time to prepare for the GMAT. At least if you want to maximize your score. I've always found it kind of silly that one needs to study and learn tricks for a standardized test, but it's just the reality.

Regarding the visa status, I can't help you so much there. I'm an American myself, so have never had do deal with student visa issues in the US. Once you get accepted to an approved full-time program, you'll probably have to change your status with the USCIS. I do know that these things ALWAYS take longer than you expect, so start as soon as you get accepted.

This site might be helpful: http://www.f1studentvisa.com/changing-status/english.aspx

Good luck!

Thanks Evan2007.

That was good information provided. Yes, i do know i am running out of time for top notch schools but is there any chance to apply for 2-tire B-Schools...if so during what time can i do that ... i am planning to take GMAT during Dec or Jan ...And coming to the preparation yes i am confident enough that i can crack it with good score. But bit confused with next steps or procedures followed here ..

Thanks again for the replay :).