Neither.
In most states, one day of the two-day exam is the aforementioned Multistate Bar Exam, which has a ton of multiple-choice questions which are based on a general knowledge of the common law. Since no state in the Union actually has the common law unmolested anymore, there will be plenty of instances in which the particular answer in your state would differ from the expected answer on the MBE. But that doesn’t matter, because law school teaches you the common law and the typical kinds of statutory deviations from it; when you’re practicing, you can just look up which one applies to your particular jurisdiction.
The other day is the essay questions portion. While it’s based on the law of your jurisdiction, it doesn’t, generally, require you to know things like statutes of limitation, sentences, etc., with precision. (The biggest exception being you’ll need to know what precise facts can support a death sentence, if your jurisdiction has it.) Mostly, it presents a short fact pattern and asks you to analyze it. In doing so, you should be able to identify what causes of action might be at issue and what defenses could be in play, and then come to a reasoned conclusion about how the case should come out. (But it doesn’t have to be “right” – you can get full points on most questions regardless of whether you say the guy goes to jail/is liable/etc. or not so long as you spotted the right issues and developed a legitimate chain of reasoning to your conclusion.)
In my state, at least, we did have a short-answer section, which was equal in total points to one essay. There were several short questions, and those were the only places where you’d expect the kind of questions you suggest in the OP. But still, in most cases you wouldn’t need to memorize the precise contour of a particular provision. Specific points of law aren’t what they’re testing you on, because it doesn’t require legal education to just look that stuff up.
(To wit – I don’t know the answer to any of the questions you posed in Paragraph 2), and it’s not necessary to know any of that to pass the Bar or be a lawyer.) Legal education is about the shape of the law, and how it hangs together, and the types of things that it contains, and how to analyze them – not whether the answer to a given question is A or B.
(N.B. The above describes what I understand to be the typical Bar Exam, but they differ by state. Some states don’t use the MBE; some states have a three-day exam. And Wisconsin, IIRC, admits you to practice without examination if you graduate from an accredited school in the state. But the two day, MBE/Essay format is the most common, AFAIK.)
Oh, and there’s no need to be circumspect about what the exam entails – these aren’t the Elysian Mysteries – as noted, old exam questions are commonly available, and part of the accepted study protocol includes taking practice exams made up of old questions – both MBE and essay. (I’ve still got the essay questions from my exam around here somewhere.) Those giving the tests want to test your understanding of the material, not how well you grapple with the format. And since the subject: namely, “the law” is so broad, there’s no effective way to cram for the tests.
Of course it’d be a different story if you found out the particular questions they were going to ask ahead of time, esp. for the essays, because it is possible to cram for “there’s a negotiable instrument question concerning a fraudulent note that was innocently transferred to later holders…,” or “there’s a crim question in which the defendant broke in to a house during the day and took a stereo which was found on a warrantless search of his car; his lawyer wasn’t present during the line-up…,” etc.
–Cliffy