David, I can't tell you how schedule risk presents itself in the exam, but I can tell you how I deal with it in real life! Schedule confidence levels are defined in the project initiation documentation. Then I add the appropriate contingency as a specific task on the Gantt chart, per phase (which will also have been specified as how to do in the project management plan). As the project progresses, and contingency time is not used, it is removed from previous phases (hence the delivery date gets closer, although in practice, given how little time we normally allocate as contingency for testing, I will sometimes extend the later contingency tasks so the end date does not move - assuming the sponsor is OK with this).
I am also sure that some project team members build 'unseen' contingency in to some of the delivery dates they give me for their tasks.