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Studying for Level 1 December 2013 Help!

Hello,
I am using schweser’s study material and I have read all of the books.  I have been doing the practice questions and I am not breaking 70% on the quizes.  What should I do?  Should I try to memorize the formula book which has 70 pages of formulas?  I feel like thats a waiste of time because thats impossible to memorize. How do everyone else prepare for the level 1 exam?

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