I. On the first read through, answer only those questions you are sure you know the answer to without a lot of thought. Mark the questions you didn't answer with an X, but put a question mark by an answer you think might be correct but would need more time to make sure.
II. On the second read through, answer all those questions you thought you knew the answer to the first time. Now you've got a little time to think about the other answers; remember, knowing that one or more of the options is wrong can be a big help in getting the right answer.
III. On your third time reading through, tackle the questions you didn't have a clue about the first time. Hopefully there won't be many and you'll be able to take some time with each knowing that you have already answered most of the questions.
A few key things to remember about the multiple choice part of the test:
You get the same score for a wrong answer as for no answer. So, if you can reject 2 out of 4 of the options, you've got a 50/50 chance--that's better than leaving it blank.
Beware for cleverly worded choices which appear to be correct but have a tricky modifier (but, except, etc.). There are not many of these, but they are easy to fall for.
'Study' for the test by reading the textbooks and notes from your survey level courses.