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The morning the exam is due, usually standing outside the room waiting to go in. Though I did do some the night before with my A-levels. (I think.)
Revision was hard to do with my A-levels though. All I could learn was which theorist created which theory, because everything else was analyzing whatever you got in the exam papers. (A poem, or newspaper article, or whatever.) Or for media it involved discussing various issues.
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I don't study. But I'm a sophmore in High School, so that'll probably change when my grades start slipping. Here in Central Florida exams are worth 20% of our grades, which means they're usually one letter grade up or down.
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Maybe about the last five minutes before if any.