Buy one of the large anthologies of literature used in first-year university literature courses. Make sure it covers British, American and world literature. Whether you choose one volume with thin paper or a set of four or five separate volumes in a series, the total page count should be well over 5,000 pages. Supplement this with an introductory textbook on literary criticism.
Read the introductory notes and major works of the authors in your anthology if you have not already read them in high school. It is best to read in chronological order so that you get a sense of how literary styles and genres develop over time. Read your introductory critical text after you have finished your anthology.
For each author, make a note card containing the author's dates, major works and important contributions to the history of literature. Make your own brief summaries of the authors' works. Don't rely on study guides in this phase. You remember far more of what you write yourself than what you read. Carry your note cards with you all the time and use spare minutes standing in lines or waiting around to review them.
Download audio book versions of major novels and plays to your MP3 player. Use time traveling to school or exercising to listen to literary works.
Many organizations offer practice tests. Every month, take one complete timed practice test to get yourself accustomed to the test format. Grade yourself, and make a note of the areas in which you are weak and need to do additional studying.
If you are a visual learner, watch movies of important literary works. Look on line for documentaries about famous writers as well. Some universities offer free videos of lectures on literature that may help you understand conceptual materials.