The PSATs are given in October of each year. You should take them no later than the fall of your junior year in high school.Get a booklet from your school counseling office and study it. The PSAT has fewer questions than the SAT I.
In our opinion: Unless you are determined to be a National Merit Scholar, don't spend time or money prepping for the PSAT. Save your money and your time for SAT or ACT prep. THEY are the tests that matter. IF you do take the PSAT, study for it as if you were preparing for the SAT.
Major reasons to take the test include: being freaked by tests, and feel the PSAT would help you get used to the test environment and prepare for the real SAT.
The Preliminary SAT®/National Merit Scholarship Qualifying Test is a co-sponsored program by the College Board and National Merit Scholarship Corporation (NMSC).