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GMAT preparation involves learning a lot of words in the intermediate to advanced levels. A lot of word lists are available in the internet which can be used with this tool.
Vocabulary is an essential part of GRE, TOEFL, SAT, IELTS. Whether it is verbal or writing sections, direct and indirect use of vocabulary is called for. Wordlists can be used in conjuction with Barron’s, Official Guide and other similiar books.