Naval Action combat is dynamic. There's no fixed solutions. Each Captain has its own style and Exam can be passed in several ways. A sample of 5 veterans groups shown that Final Exam was passed using 5 different methods. By shooting hull and sinking both ships, by boarding both ships, by capturing NPC and sinking the second, another using demasting to cripple and then sink both ships. Everything works.
What works for one Captain might not be the best for another. Plus wind, waves, positioning, flow of battle, is different everytime we try.
Improvise, adapt and overcome
The following videos just give a brief overview how the exams can be completed successfully.