I actually attempted to do this this past year. I graduated May 15, 2005 from Case (Cleveland, OH); I was starting residency in July in Texas which has no residency training requirements for step III. I wanted to take the test in the 6 weeks between graduation and the start of residency, but it did not work out - here is the reason... It takes your medical schools at least 2-3 weeks to officially approve your graduation following your graduation date. Once they do, they tell the FSBME which takes another 2-3 weeks. Consequently, it takes > one month just to be able to apply. Case in point - I applied May 16th for Step III. My application was not fully approved until the very end of June. During this time I was calling my school and FSBME who both were saying that things were going as fast as possible but that it always takes over a month for new MDs to get verified. Once the application got approved, it took another week for mailing and then once I received it there were no back-to-back dates available for nearly a month. So, from my experience, what you are trying to do sounds great but it just does not work out that way.