I've taken the test, it's been almost a year so I my memory isn't to fresh but I can say this: I had very little experience with RHEV (though I usually work with other hypervisors), and was able to pass the class with just the 5 day class - so it isn't too hard, but it is a Red Hat test, so take nothing for granted.
Too avoid crossing NDA lines, I'll talk about a few of the objectives:
Install Red Hat Enterprise Virtualization Manager and any dependencies.
Use Red Hat Enterprise Virtualization Manager to:
Create datacenters and clusters.
I'm sure because of this you'll be rebuilding your lab set up from scratch several times. If you find this to be a time consuming task, it'd be fair to assume it might impact a timed event.
Develop pools and templates.
I'm sure you've noticed the test objectives include both Linux and Windows guests, enough said, moving on.
Set up Red Hat Enterprise Virtualization Manager users.
I only call this one out because I remember some ambiguity involving this objective that I might not have seen had I studied it more thoroughly. That's all I can say there.
You might already have this link, but the technical white papers help as well:
All the others are dead on, and couldn't expand much on what's already said. Given your experience, and a few months study time I think you'll be OK. Good luck!