In the MERM, there is a study schedule in the Preface of the book (read the entire Preface/Introduction), it tells you the chapters that you should go through, follow that table.
General tips:
Don't study the engineering economics too much, there is usually only a question or two.
I would spend 2-3 hours on weekdays studying --- reading a chapter from the MERM and doing the MERM practice problems for that chapter, and then move on to the next chapter. I started studying 2.5 months before the exam day, many recommend putting in 250-300 hours of study/practice to be adequately prepared. I think I had 200 hours of studying.
On weekends, I would study 8-10 hours sample routine --- ready chapter do sample problems...general advice---do as many practice or sample problems as possible.
Understanding the fundamentals is the key, and then developing speed through the problems is a must.
For the NCEES sample exam - you have two choices: review the sample test problems as you study through each section (flip through the test book, find relevant problems that you just studied in the MERM book.... OR Save the test book till the end (one or two weeks before actual exam) and then take it one shot.
Eventually do the entire NCEES test exam (8-hours with a 30 min break) in one sitting to simulate actual test taking day. I did it the Sunday before the actual exam week.
Definitely study the Shigley, read through each chapter or skim through the chapters, pay attention to each table and figure in the shigley. I used Shigley the most after the MERM
Some one loaned me a mechanical pencil they used on their previous PE exam, if you have it use it when you study, if not use a typical mechanical pencil.
Practice with the calculator you plan to use on the test
Don't forget to take Roark hand-book of equation, i missed a question because i didn't take it with me.
People brought in suitcases filled with books, i would recommend taking any reference book that you think might be useful. I took these books: MERM, MERM practice, NCEES sample exam, Shigley, a engineer formula book (any one is good enough), a thermodynamics book, and another Machine design book other than Shigley, and my FE reference manual they gave us when I took it.
On the exam, you will come across question that will not be in any reference book (e.g. material selection problems), use logic to solve these, so when you work through sample problems after you get the right answer, try to use logical arguments to eliminate the wrong answers...this should develop you logical process of elimination technique.
use a wrist watch to time your study habits, you will use the same watch on the test day
eat and work-out, hang out with friends to relieve stress
don't forget your family as you prepare for this exam, i was married (no kids) when i studied for it and worked a full-time job, be disciplined.
The exam is difficult, its your enemy, know that you will get questions wrong, but if you prepare for it, you will get enough right to pass it.
Good luck