Wow... I don't even know where to begin with this. If I were in charge of API, and a student failed the intro PFT/PFA, you would be gone. No appeal, no second chance, nothing, "thanks for trying (but obviously not very hard), get the fuck out". That's an amazingly unacceptable first impression. Don't be that guy.
Secondly, there is no need whatsoever to study before classing up at API, unless you're knocking out PME or something, then focus on that. I'm pretty sure no one in my class (way back when) even looked at the books beforehand. We certainly never talked about how much each other prepped or what have you. Relax. They will teach you what you need to know and what to study. And that studying should not interfere THAT much with the drinking and partying you should be doing.
API is not hard. If API is really, really hard for you, perhaps you picked the wrong line of work.