Application process took a month since i have submitted my cv through the website. The first part (for me it was also the last one), consisted of an on-campus test on probability & statistics, brainteasers, calculus and linear algebra. Though the problems didn't require tons of knowledge -- one will be competetive for the test having a decent knowledge of calculus (both 1-variable and multivariable, integrals, limits, double integrals, basic odes), linear algebra (characteristic polynomials, ranks, e.t.c.), probability and statistics (coins, bayes rule, normal distributions, medians/e.t.c.), the time limit is extremely brutal and will not let think about the problem too much. Surprisingly, there were almost no programming/algorithms questions (maybe 2 or 3 out of 80). A good preparation would be the GRE subject test in mathematics sample papers (accomplished within the time limit, of course)