University of Mumbai [MU]

Hi Kashika,
I would suggest you to check this with your seniors as they must have gone through this phase.
All the best.

Yes, students pursuing correspondence course or distance learning too can appear for GMAT. Wth regards to acceptance to such degrees by universities abroad, there are universities that do accept such degrees. However it is best to email the university for the same.

Yes, you can definitely change college after getting O grade in FYBMM. You can apply for some of the good colleges like MMK, Mithibai, NM college of commerce and economics, National college, provided if you stay in Mumbai . You can apply for any of the good colleges in SYBMM. Rest is up to your choice whether you want to continue in the same college or some other college.

It is not necessary to appear for all the subjects. You should opt for the subjects in which you have low marks.