sir, its really good test consisting various aspects of current GK including business and finance too. i scored 56. Currently SNAP is one of the major and important national exam giving a hard nut on GK..and it comprises certain good schools like SIBM, SCMHRD, SIIB, SIMS, SIOM which can be ignored only on one's ignorance and bad luck ...to crack those GK is must. Doubt remains in one ques..i.e. industrial and commercial bank of china. it was in world news coz it was the biggest IPO.. rest was almost fine.. Test is also good for those who are planning to appear for any of the BANK PO Exam...
I do not know well the old notion of XLRI taking GK tests will go. All the good B Schools are moving away from GK tests like FMS and XLRI has not given these tests last year. Moreover this GK should be business GK but some of the B Schools who are stupid enough to ask these questions are really weird GK like history of mughals etc. So the best bet is work hard and avoid these third rung institutes where those things are asked which have no relevance.