For the longest time, I read online debates on whether you need to take the exam or not. It used to be that when you hold at least a 4-years course University or College degree that you get exempted from this requirement. But the global competition grew and now: you need to take and pass that exam whether you are a degree holder or not. This new ruling was published in 2007.
In my humble opinion, learning the language
Whether you take courses offered by German Language School or opted to do self study is really your decision entirely. I read stories about some who did not take formal training and yet passed the exam. And some, who did took the formal training but needed to take again because did not make it. The bottomline is you need to study.
The knowledge of the German Language will help boost up your self esteem, so yeah: no worries... it's a good thing! Happy learning!!!