Personally, I am ADDICTED to doing my bound refererence or preparing notes for any subject, for even the subjects that do not require bound reference. If I dont do my bound reference first, I simply dont feel like doing the exercises. Although it is vastly time consuming, I think it is quite worth It. I usually read the book at home and write the important points down. As the teachers have a limited amount of time in class, they tend to neglect some of the minor informations. So reading the book and writing down notes can avoid missing out on those infos, which might become very important when u get stuck with some questions. Besides this, it is quicker to refer to ur bound book rather than spending minutes tuning back and forth in the text book. And one of the major purposes of having a bound book is to have some of the tricky questions on them or having a "danger zone" section where u can have dot points about some of the reasons why silly mistakes can be made.
Different people have different learning styles, so I cant really state that you must have a bound reference, but I sort of find it vital for myself for getting good scores.