Take every opportunity to listen to Italian in a variety of contexts. You can listen to tapes which accompany course books, videos, past exam cassettes, Italian radio and SBS Italian news. Don't be afraid to replay a section if you don't understand it. Remember that in the exam you will hear each item twice. Note down new words that are repeated - if you don't know the meaning, look them up in the dictionary.
Students often have difficulty understanding words that have been borrowed from English.
If you hear a word you don't recognise, write it down and see if it resembles an English word. Get into the habit of listening for gist and specific information. Practise making notes while listening. Revise your lists of key words and phrases for each topic. Don't forget basics from earlier years.