It's a little of both....experience and seeking out/understanding the information provided are both key to completing the process successfully.
There is a three year wait period from the time you join the ABS until you are eligible to test for JS (if you attend the ABS Beginning Bladesmithing course at the ABS school, that time frame is reduced to two years), and once you achieve the JS rating, there is a two year period before you are eligible to test for MS. That might sound like a long time, but most folks need that amount of time, or longer, to hone their skills to the point where their knives will pass the rigid standards.
Something that I find surprising, and that I feel is part of doing your "homework", is to get out there and attend a few of the bigger shows during the time your working towards your JS. Sure it costs to go to these shows, but the knowledge you will gain from being exposed to the high level of workmanship is invaluable. It's also a matter of seeing and knowing the level of work that is out there, which gives you an indication of what will be expected when you step up to test. In several cases when I've been a judge, folks have shown up "out of the blue" to test for their JS. These where people that nobody knew, and who had never attend any major shows, nor had they taken the time/effort to have the knives they submitted for testing reviewed by anyone. In ALL those cases the knives were far below the minimum standard, and the person(s) failed. After talking with some of those individuals it was obvious that they did not fully understand what was required, nor did they understand the gravity of the endeavor. Had they put forth the effort to seek out other Bladesmiths, or go to a few major shows, they would have known/understood what was expected.
I always tell perspective testers to read, re-read, and then re-read the ABS testing rules. You would be surprised at the number of people who have shown up at my shop, wanting to test for their JS, that I had to turn away because their test knife did not meet the requirements, (overall knife too long, blade too wide, etc) which showed me that they never even took the time to read and comprehend the rules.
Those rules can be found here:
JS performance test rules
During my recovery from surgery last fall, I wrote a couple of articles for my website, in which I tried to break things down even further for those who aspire to test for JS or MS. You can find those articles here:
ABS Performance Testing
ABS Presentation Testing