1) The document provides 10 tips for preparing for the ITIL Foundation exam, including practicing exam questions, carefully reading exam questions, studying ITIL recommendations, terminology, strategies for measuring targets, delivering value to customers, the service design topic, and the differences between a service portfolio and catalogue.
2) Key aspects to study include all ITIL processes and their corresponding phases in the service lifecycle, and understanding the type of value different recommendations provide to businesses.
3) Thorough preparation is emphasized, such as practicing exam questions multiple times, taking time to read questions fully, and knowing ITIL concepts like terminology by heart.