Waiver for B school (MSc)

This is currently hypothetical, but an idea that I have been playing around with. If I apply for a GMAT/GRE waiver for an MSc and it is granted for "exceptional" qualifications, could I get dinged by the admits when they compare my application to others that have taken it or will the GMAT/GRE merely not be a factor when they evaluate me?

 

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