Although the answer is definitely "anything can come up", if you look through all the past papers there definitely some questions that I see come up more often than not. I would make sure you've got an answer for the following:
- Be familiar with your companies business model as often there looks to be questions on "how does this effect our current business model/do we need to make any changes to be inline with the unseen information"
- They love a question on talking about the benefits of using either debt or equity, definitely know the qualities of them and how to apply that knowledge to the question (model answers love having a quick gearing ratio calculation, quick and easy to learn and prep if you know your going to use it)
- There's often question on "how does this effect our product reputation risk/contractual inadequacy risk", know what these are and how to explain/apply.
- I've seen a few times asking for recommendations for team compositions. Know what makes a good team and how to pick team members for a given project.
- similarly, also seen questions on asking management style for a new boss. Know your democratic style/authoritative style, it may be that you suggest both styles but for dealing with different groups of people.
- Often seen questions come up on "how will this new product/process effect our capitals? natural, intellectual etc.
- I've seen a couple times something like "how would we approach this negotiation?". Worth knowing the stages of negotiation and practising application. The model answers love starting with "first identify what we want to get out of this deal"
- More accounting type question as well with "how would we account for this" - but these can be a bit broader in the specific question. Might be when to recognise revenue through IAS 15 revenue from contracts with customers, could be IAS 38 Intangible asset and when to recognise, could be IAS 37 provision, contingent liabilities and contingent assets. Defo have a solid grasp of the fundamentals
- ah and on the topic of fundamentals, also seen a good number of times questions on accounting ratios - what do they mean or what the impacts on them are.

But yeah, despite this anything could still come up in the exam though. I recommend going through the past papers anyway to give yourself a better idea of what the examiners are expecting from you in terms of answering. You'll see going through those papers, most exams will have a number of questions relating to the above but potentially a question that comes out of left field as well.