The brutal reality is that the exam does almost nothing to get you prepared for actually knowing how to USE radios. That's why I always recommend people just get the test out of the way as fast as possible so the real learning can happen. I studied like mad when i was first getting my Technician license, spent a month, read the full ARRL study guide book, watched a 6-hour ham cram class on youtube, watched all KE0OG's section introductions (they're awesome, by the way). I went into the test and was absolutely blown away at how overprepared I had made myself. The next day I had my call sign (Laurel VECs ROCK!), I turned on my HT to "get on the air" and then realized I was completely lost and had no idea what to do next to actually use the darn thing.
The most powerful way of learning how to use radios is by actually using the radios. That's why, in my "expert" opinion, the best way to "get on the air" and start learning is to pass the tests as quickly as possible to get them out of the way. The Technician and General exams don't help you really understand anything more than very very high-level concepts, and none of the concepts (more with HF, and especially with respect to propagation) will really make sense until you experience them first-hand and get that "aha" moment when actually operating.
The Amateur Extra exam is the only one that you really need to earnestly study for, as it is a true test of actual deep technical knowledge of how the theoretical bits work and why, and even then, it still doesn't help you learn how to actually USE radios in practice.