preparing
v.v. to get something ready for use or to make yourself ready for a future event. You do this when you plan ahead so that things go well later.
v. to make something ready for use or consideration; to put oneself in a state of readiness for a future event. Often implies a systematic process of arrangement or study.
She is preparing a healthy meal for her family.
The students are preparing for their final exams by reviewing their notes every evening.
The legal team spent several weeks preparing the necessary documentation to ensure the merger would proceed without any regulatory delays.
The verb is transitive when referring to an object ('preparing dinner') and intransitive when followed by 'for' ('preparing for a trip').
I am preparing the examI am preparing for the examIf you are the student taking the test, you must use 'for'. Without 'for', it means you are the teacher writing the questions.