For floating point numbers, you mainly need to be able to convert given numbers from and to floating point format. Performing arithmetic operations on floating point numbers is quite involved, and we usually don't do that in the exam. You should however know how that works in principle, i.e., that we need to adapt the exponents for addition/subtraction, and so on. Performing that in detail is however quite involved since rounding is required at the right steps etc. Bytheway, hardware implementations for the "full" IEEE754 standard are still not everywhere used since it is so complicated.
