When you begin to hear an answer, listen to the entire passage. Words like however or but can change the entire meaning of a phrase, so Cambridge likes to use these.

Remember to focus on the over-all message of the speaker. You may hear them mention bits and pieces of other answers, but don't let the distractors confuse you. 

On other parts of the exam, the answers usually show up in the same order they appear on the test paper. This is not always true for this section. Because you must answer 2 questions about each excerpt at the same time, you may hear the answer for the second question before the first.

When practicing, if you get something wrong, look at the transcript and understand why your answer is wrong.

The answer will probably use different words than you hear. Cambridge loves paraphrasing and using synonyms. So, if you hear the the exact same words that you see in an option, that option probably is not the right answer.

Don't worry if you don't know every word. Try to guess the meaning of new words from context. The reading and listening tests intentionally include vocabulary above your level because test makers know you will have to deal with unfamiliar words in the real world. 

Because you hear the recording twice, you could do the first task during the first playthrough and the second task during the second playthrough, instead of doing both tasks simultaneously. You should experiment with both strategies and see which works for you.