I failed Business Law the first time, too... thought it was easy...thought I was ready.... Yeah.

Here's two tips that Snazzlefrag gave that REALLY work: (and if you follow these two tips - you should pass the test)
1. Learn the basics.
2. Go through the entire test and answer the easy questions. MARK the harder questions. After you've answered all the easy questions - go back and answer the harder questions. This got me through biology and accounting. It makes no sense to wade through really difficult questions -- while FREAKING out at the same time...wondering if you really CAN answer 100 questions in an hour and a half.

Do the above -- and you should be good to go.