75-80% reading the CFAI texts, rest of time divied up on this site, flashcards, and problems.
for level 1, they only try to trick you 20% of the time. most of what was on the exam was sraight out of the book. problem is, you cant game the test. anything is fair game so you have to have a good grasp of everything. going in saying you will bomb one section and do ok on the rest will not cut it. because on test day, there are other variables in play that are not around when you are studying at home.
also, time yourself!!! you have 90 secs a question. sounds like a lot, but i spent 5 minutes on a real estate problem, if you get caught doing this too much, you will fail not because you do not know material, but b/c you do not manage time well.