I have an exchange rates exam as well, for essays I only memorised them if I actually kinda knew what the question was, otherwise I just practiced writing essays under timed conditions.
You might, they tend to take people with achievements and their contribution to extracurricular activities (which you have). Anyways it depends on how everyone else applying is doing. You have a chance. Good luck
Sadly they didnt get in. They were involved in extracurricular activities and had great achievements (State swimming, state cross country, clarinet etc.), though I believe their report was what caused them to be rejected ahah