For future reference, we answer questions in this folder twice a week on business days and we answer them in order - oldest first. That date is measured from the date of the LAST post in the thread. Don't reply to your own post (unless you have additional information you want to tell us, as you did with your 2nd post) because you just put yourself later in the queue!
I'm sorry you're having such a tough time with this test; we will do our best to help! The good news is that you have 3 months and you have a modest goal, so there's a good chance that you can reach your goal with the right kind of effort.
Your official test score was approximately 100 points below your practice test scores, so the first thing we need to figure out is why this happened. Read this article and do the analysis described; then come back here and post what you discovered. We'll help you figure out what to do with the information.
http://www.beatthegmat.com/a/2009/10/26 ... went-wrongI can already tell you at least one of your problems: you only answered 26 questions on quant and had to guess on the remaining 11 questions. That would absolutely kill your score. You mentioned a slow reading speed for verbal - did something similar happen there (in terms of running out of time)?
If you continue to try to answer every question with as much time as you might need to answer it, then you will continue to score poorly on this test. Part of your task is to recognize when the test has given you something that is too hard for you (and the test will ALWAYS give you things that you can't do in 2m). When you do see something that is too hard for you, your best startegy is to make a guess within the given timeframe.
You do NOT need to get everything right on this test - you only need to get about 60% of the questions right. Think of this as a tennis match, not a test. You're going to win some points and the other guy is going to win some points; you're not going to win them all, right? Your goal is to put yourself into position to win the LAST point. Translated, that means you have to put yourself in position to answer the last question - you have to have time to address it. Otherwise, you've lost the last point, and by extension the match. When the other guy hits a winner, don't go running after it so fast that you hit the fence and injure yourself, thereby hurting your chances on the later points. (Translation: don't go way over when the problem is too hard.)
I would recommend that you sign up for a copy of our free e-book, The GMAT Uncovered. It will explain how the test works in more detail, and you do need to understand the information given in this short book (it's only about 40 pages). If you have previously signed up for a free test with us, then the free e-book is already included in your student center; just log in and take a look.
Please let us know more detail about how you have studied so far - what materials have you used, what are your strengths and weaknesses, how do you review and analyze your work, and so on. If you have taken an MGMAT practice test, then you can use this article to help you diagnose your strengths and weaknesses:
http://www.beatthegmat.com/a/2009/09/23 ... tice-testsPlease also let us know the results to your analysis from the "My Score Dropped" article.
Finally, for future reference, don't take the real test until your practice test scores are in the same range as your goal score. Your practice scores were in the mid-400s, yet you wanted to score a 550. It is very unlikely that someone will score 100+ points higher on the real test than they score on practice tests.