Hi Chris, good to hear from you! How's it going? I broke my foot a couple weeks ago (first broken bone ever) but aside from that I'm doing ok.
The test was a mix of straight-from-the-material questions plus some questions about how you'd apply the concepts. Some of the questions were based on the powerpoint slides and some were in the study guides at the back, so it's best to be familiar with where everything is before taking the test.
If your company won't pay for you to finish the classes, you could see if HFI provides enough study material to take the test without the training. I would think it would be more difficult to do without the training, unless they could point you to specific books that it covers.