I don't think it's really essential to have any formal training in either maths or physics. However, it will make a difference - it's the difference between learning the formulae by heart and plugging them into your calculator, and actually understanding why the formulae work. Personally, I'm pleased that I understood the basics well enough that I could use them to help me understand why the formulae work. If you're sitting in an exam and you can't recall whether that formula you need for question 21 had a Sin or a Cos in it, having the ability to work it out (or just check your memory) is a nice confidence-booster.
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