Im supposed to take it next month once school starts. At orientation i asked the cadre and they said theres no need to study for it. They said its exactly like the SAT, but with some aviation related questions included. None of the cadets told me they studied for it. But if you really want to, there are a bunch of books and study materials out there for sale.
You take it twice anyway. I think we take it again before we apply for career fields, and thats when you really want to do good on it.