Step 2: Set the Bar

You know how many % the exam is worth but you should also know your grade going into the exam. Dividing your studying time for different classes means that you have to prioritize different exams over others so this information is important. Knowing the room is important because exams in anywhere but the gym have a less formal atmosphere. The prof isn't afraid to make announcements to the class and is usually willing to answer questions and/or help (if, of course, you ask the right questions). All of this stuff lowers the exam risk compared to other exams.

The amount of studying you have to do to get a higher grade does not go up linearly. Exams are typically designed that only people that know very fine details can get the A or A+. Unless you have a photographic memory, doing this type of studying takes a lot of time.

I tend to study by grades. First I think of all of the possible questions the prof could ask and then aim for D+\C knowledge. That usually includes a knowledge of the major subjects, not much detail. Probably take a gamble and learn 2 or 3 questions really well betting ones like them will be on the exam. The HOW is much more important than the WHAT or WHY at this point. This is very risky, but is a good last resort short-for-time strategy.

Then I aim for the B\B+ knowledge. All of the topics I understand on the WHAT level, but sometimes the WHY information can help in an exam to "reason" yourself to an answer (which is what I do rather than straight memorizing, which I'm terrible at). I can answer most questions satisfactorily but not in any degree of detail. Procedural methods for answering questions (abundant in software, computer science and math courses) are memorized through doing questions over and over, which takes lots of time.

The A\A+ knowledge is stuff I will probably never ever use in "real life" or ever again for that matter. A lot of the time it's WHY information or details gleaned from an operating manual (memorization of stuff you could normally look up). I frown upon these types of questions, but they happen. They are a mark of an uncreative and uncaring professor. As for this level of detail, I can't recall ever studying for an exam saying "I want to know this course inside and out". I have better things to do with my time. But we all set our own bar for success.

Especially this year I have to weigh exams over others. I have three exams: two on a friday, morning and afternoon and then one the following monday. It's going to suck, but the break at the beginning is great and they'll be all over with at once. w00p.