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If you're aiming for non-IIM B-schools, all four exams — CAT, XAT, NMAT, and CMAT — can open good options depending on your target colleges.

For example, NMAT is accepted by schools like Athena School of Management, NMIMS, and SP Jain Global, which focus on profile-based admissions and industry exposure.
XAT and CAT are more competitive and suit those aiming for top-tier institutions, while CMAT and MAT are good for mid-range B-schools.

Your choice should depend on your career goals, target institutes, and the type of MBA programme you want — whether corporate-focused, analytical, or global.