My advice would be the generic stuff: 1. Aim to finish bookwork long in advance of exams (more than a month before). Don't select topics to study based on past papers. Read through everything. After all, as a risk manager, you should appreciate diversification of your knowledge portfolio. It also helps you survive that black swan exam that asks what ST9 exams have not been known to ask. 2. Do lots of past paper questions. It doesn't have to be each paper as a complete exam. You can simply take questions from all past papers at random and try to answer within exam time (eg 1.6 minutes per mark). Write full answers as you would an exam and read through the model answers. 3. Don't waste time on additional reading. Read bookwork (CMP and the 2 books). Don't bother too much with recommendations given in the CMP (Orange Book etc). You can simply watch the business section during news hour and read the Economist and the Actuary in your free time to let your mind apply some of the principles to real life. Don't try to guess what news topics will be featured in the exam. Keep an open mind and think from scratch and with whatever common sense you can muster. 4. If you can, take adequate time off from work to prepare before in the days before the exam. 5. In the exam, you are better off finishing points you already have on a current question you are answering than rushing to go start thinking of new points to the next question. A bird in hand is worth 2 in the bush. Do try to write fast though, but also legibly. 6. Be prepared but also have 'realistic' expectations. You can do everything in your power but still fail. Pick yourself up (after the horrible weekend) and start again. Study hard and thoroughly as though it's your first attempt.
On number 2 I'd add as you've seen past papers before, I'd supplement with fresh material such as a new mock exam if one has become available. I like the idea of mixing up the questions too, as somehow that might make it feel like a fresh paper, because you've not done those questions together before as opposed to just say retrying Apr 2016. And on 5, write succinctly and don't repeat yourself as all that does is eat into your time. Try key words in CAPITALS so you can see what you've covered. And the old classic, read the question carefully and make sure you are hitting the brief.
Good advice from Retrieva, thanks! Bystander's advice to "answer the question" is spot on! At the risk of justifying our recommendations in the CMP regarding the Orange Book etc - we see these as examples of "diversification of knowledge" (see point 1). We recommend sources that cover/aggregate similar ERM concepts and ideas in different ways from a different perspective, much like examiners do. The Orange Book, for example, is in relatively plain English and includes some diagrams for those those think more visually. If you don't get any value from it - no obligation to spend any time on it!
