Passing the PSM 1 assessment could be considered an indicator that you understand the Scrum theory and the principles that underpin Scrum. I always tell students in my PSM class, that my intention is not to make them pass PSM 1 but understand Scrum theory and principles.
There are a number of exercises that Professional Scrum Trainers invite students to partake in the course of the PSM 1 class; these exercises have been designed on practical experiences of Professional Scrum Masters and these exercises create a solid foundation for you as you commence your Scrum Master career.