Hi slsrockatt,
This may help you, I remember them from earlier posts:
I only printed out the pages mentioned in the study guide, which in some cases, was like 10% of an entire chapter :P Plus I did it at work, so it didn't cost me anything fortunately!
All the previous comments are correct, the initial test is just to gauge where people are at and who might need a little extra help in the theory block, and they reteach everything over the first 8 weeks anyway. One person on our course never looked at the pre material, barely looked at the books at the college, and still passed :P Not saying that's the way to do it, just an indication :P
Thanks to Fatty182
Also check out Kieran17's excellent description of the entire course, currently on page 109 of this thread. It appears Airservices will judge your knowledge of the subject matter in the first week or two of the course commencing. All the best.