Cramming for an exam by swotting frantically up to the time one enters the exam room certainly suggests that something is seriously wrong. However, there not only is more than one way to skin a cat, but some cats are better skinned in different ways. Some subjects are cramming subjects, including subjects that their professors would insist to be material for intellectual comprehension rather than memorisation, while the exams they set are the purest cram-work.
Students also differ, not only in industry and application, and not only in aptitude, comprehension, and mental retention. There is little point to telling all the others how YOU did well and therefore they will do well the same way, when your way of doing things fits your mind and attitudes. You should have learned all the material long before? Nice. That should render it unnecessary to do any last minute revision? Pull the other one! For most minds there is nothing that triggers useful recollection of facts, and mental organisation of vital principles and key points, better than that last-minute skim through the notes or books.
Then there are some subjects and examiners that involve facts, values and formulae that you are not allowed to take into the room with you. There are some movements afoot to eliminate those by permitting the student to take notes into the exam room, but those are not universal, partly because it takes a lot harder work on the part of the examiners to set effective open book exams. Anyway, for such exams, if you are not one of the photographic memory brigade, a useful trick is to prepare a list of the crucial values that you memorise in the last few minutes, discard on the way in, write down what you have memorised before reading the paper, and then settle down to writing the exam.
Never mind the other folks; make sure you understand your subject and your own talents and weaknesses, and adapt your strategy to suit. Whatever else you do, that is likely to work best on a basis of long, sensible preparation.
If you can’t do that, then drop it and do something else with your life.