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Good questions. For your first one, I have no idea - this folder is monitored by GMAT teachers, not admissions consultants. :) Go and post your question in the Ask An Admissions Consultant folder; they'll be happy to help.
You can only select 5 schools for free at the test itself. Afterwards, you have to pay (last I checked, $28 per school!). So just pick 5 schools while you're in there. Why not? And then you'll have to pay to send to any others that you want to add later.
Re: your question about why people would take it when they don't know where they're going: because, statistically speaking, it's easier to do better on standardized tests the younger you are (and, yes, people have actually done research studies on that). You're still in academic study mode, you don't have a crazy job yet where you're working 80 hours a week, etc.
Good luck!
_________________ Stacey Koprince Instructor Director of Online Community ManhattanGMAT
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