The biggest challenge in preparing for this exam is the total lack of study resources. Microsoft does not offer any study resources at this time nor are reputable third party resources available. That being the case, there are really only two things that you can do to prepare for this exam.
First and foremost, you should work with the Forefront products and gain experience with them. Having hands on experience will prove to be invaluable in passing this exam.
Working with the product alone may not be enough however. Microsoft exams are notorious for testing “book knowledge”. That being the case, it is recommended that you spend some time in the TechNet library reading the Forefront documentation. A good place to start is: http://technet.microsoft.com/library/ff823816.aspx
Recommended Study Resources
At the present time there do not seem to be any legitimate preparation materials for this exam. Microsoft does not offer any Microsoft press books, E-Learning classes, or classroom based training. No third party training books or reputable practice exams seem to exist either.