The basic reason for an exam is allowing both teacher and student to estimate their accomplishments. The teacher wants to teach. The exam gives some idea of how well or how poorly this was done. How to take examinations, particularly Objective Tests. How to use the test results.
Most people find it essential to establish some special time for learning.
Use an effective method of study. Your own plan, if effective, is good. When you are Just beginning to organize your study habits, don't be too ambitious. Don't try to crowd all your time for study in the day and leave no time for other things. Do not assume you can increase your capacity more by adding more hours of study.