despite me thinking this test is a complete waste of time and only there for revenue, i have to do it.
Then if you are so good at it that you regard it as a waste of time, why do you need to ask others what its all about?
If you are that competent it will only take 15 minutes and you will pass with flying colours however, the lack of knowledge you display in your post regarding the content and format leads me to think that you actually have quite a lot of work to do.
Just think, that work may just make you a little bit safer.
With regard to revenue, who makes any revenue out of it and how? Compare any costs incurred with those your AME makes for seeing if you are still warm!