Don't try to translate
Translating vocabulary and sentences wastes a lot of time. It is very rare that students have extra time during the TOEIC test. If you don't know a word, look at the context of the sentence and the words around it. You will not be allowed to use a dictionary when you take the test.
Guess as a last resort
On test day, if you don't know the answer, and you have eliminated all of the distractors you can, don't leave the space blank. There is a good chance you will not have time to go back to this question. You still have a 25% chance of getting the answer right if you guess. If you are sure that one or two of the answers are incorrect, your guess is even more likely to be correct!
Be aware of time management
When you are doing practice tests, you should always be aware of the time. Never allow yourself an open ended study session. You will have to learn to work efficiently.
On test day, you should be especially careful in the Reading section. You will have 75 minutes to complete Parts V, VI and VII. Many students spend too long on section V or VI because they find these the most difficult. Don't spend more than 30 minutes on the first two parts. Part VII will take you at least 40 minutes, and it is worth a lot of points, especially if you find it an easier section.
Listen quickly
When you are studying for the TOEIC test, do not get in the habit of rewinding the tape. On test day you won't have any control over the speed of the listening section. You will not even have time to think for very long between questions. Make sure that you do not get behind during the real test. If you do not know the answer, take your best guess. Then continue to follow along. Don't look back at questions when you are waiting for another question to start.