Underline important info in the questions. Always be on the lookout for tricks. I'm always have this mentality that VCAA are trying to trip me up on every single question.
Look at mark allocation. If its 1 or 2 mark, don't write a whole heap of working out..... you are wasting time. (However it's important to show as much working out on show that questions)
Other things to note:
Does it say Use calculus, use algebra
Domain restriction on graphs, When graphing pdfs.... (remember to draw lines y=0, when the pdf is "stated as otherwise")
IS THIS CONDITIONAL PROBABILITY?

Always ask yourself this if you have a question that could possibly restrict sample size...
Decimal answer or exact?
Also have a rough idea of how long you are going to spend on each question. What I am going to do is after reading time (I'll get an idea of difficulty and how fast I need to be working) , ill write the times when I would want to finish each section in my bound reference... So if I am behind, I know that I need to work quicker... or skip a question that I am stuck on...
For example.
3:15 (writing time starts) -- 3:40 (multiple choice)
4:00 FINISH question 1 extended response... etc...