Recent Exam Takers are consistently reporting that there are fewer to no questions regarding formulas. At least no calculations necessary.
As Jo already stated, you should have an understanding of what the formulas are for and how to interpret the results (systems do calculations, after all).
If you read this article and gain a solid understanding, you're all set.
There is little testing on the formulas. You will need to be able to interpret the results, such as how to tell if your CPI is good or bad, and how it affects the overall project. Many of them have tricks you can use like "above 1 is good and below 1 is bad" and such.
Training for Project Management Professional (PMP)®, PMI Agile Certified Practitioner (PMI-ACP)®, and Certified Associate in Project Management (CAPM)®