[USER=3352]@nisadee[/USER] it is great that you have been helped by my wonderful colleagues [USER=17165]@George Maxwell[/USER] and [USER=17155]@AvniD[/USER] - their advice is more thorough than anything I could provide!
I would like to add emphasis to this case study article by [USER=5063]@Jacob Miller[/USER] which [USER=17155]@AvniD[/USER] already linked you to. What I found so incredibly useful is the way that it sets out a table with all the possible legal and commercial considerations in the scenario.
I am sure you are actually very good at thinking on your feet and besides, with the incredible number of ACs you are getting (huge congratulations!) I know that you will improve naturally anyway. Nevertheless, I am about to reveal a big secret...
....you do not need to be quite as good at thinking on your feet as you might think 🤣
When completing a case study or written exercise for the first time, I would take inspiration from [USER=5063]@Jacob Miller[/USER] and make a list of all the possible considerations. In fact, I would have a pre-written list beforehand and simply cross off the ones that may not be relevant.
I separated my list into legal, commercial and reputational issues and included the following bullet points amongst other things:
- Stakeholder interests
- Methods of financing
- Due diligence
- Risks of litigation
- Warranties + indemnities
- Possible synergies
- Employment issues
- Competition/antitrust regulations
- Tax implications
- Client's competitors
- Future client relationships
Now these are very broad and vague topics (and I am sure there are many more not directly off the top of my head). A lot of these would not apply at all to certain scenarios, but it is good to go in with an idea of the kinds of things you should be looking out for.
If the written exercise is on a topic completely unrelated to a legal/commercial scenario, then my main advice is to read the question first and have a brief read of all the material they provide you with so that you understand the big picture of what you have to do. Then lay out a clear structure for yourself as to what issues they are asking you to address, before going back to address each issue in more detail. This involves slightly more thinking on the spot than my above example but if you get it all done at the beginning then you will feel much more capable of writing fluently on the topic.
At the end of the day, these exercises are unlikely to have details in them which are really tricky to notice! You do not have to be in genius mode when you are completing them, you just have to think creatively and the main thing is that you present your answer with as clear a structure as possible! I hope that all helps 
