In my mind, the SIMs are basically just a lot of MCQs stuck together, and with “fill in the blank” instead of MC. The material is the same – any and all FAR topics! So, if you feel like you need to review those HW questions, then go for it. But, if you can squeeze in an hour or two to look over SIMs, it may help give you a feel for what you're getting into.
Also, have you done other exams before with research SIMs? If not, I'd look at one or two of those just to get an idea of what the AL is and how to use it. I didn't before my exam and still think I got that one right, but a bit of familiarity would be helpful!
The most important thing for the SIMs is to be able to come up with journal entries. I don't think this means memorizing them, but being able to come up with them. Like if you need to make an entry for depreciation, would you be able to figure out that the debit is “Depreciation Expense” and the credit is “Accumulated Depreciation”, if you were given a listing of account names to pick from? In my mind, the MCQs already test your ability to figure the amounts, and whether the account increases or decreases – the SIMs just make you convert that into debit and credit. And the best part is SIMs award partial credit, so if you get the right amounts in the wrong order (like credit the expense), you'll still get some credit!
Now I know the SIMs kill most people, so this advice probably isn't the best for everyone. But, this is my opinion after taking FAR. 🙂 Learning the topics is the key, and if you'll learn them best from reviewing HW, then go for it!
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