Has anyone done self study at this level? If yes, can you please recommend few good books I can refer to and possibly some good resources to help me learn as well as prepare for the exam. Would love to know any tips you might have as well. Thanks in advance for your help :)
If you're a book person I would recommend two books to you:
Intermediate German (A Grammar and Workbook) ( http://www.amazon.com/Intermediate-German-Grammar-Workbook-Workbooks/dp/0415284074 )
For listening comprehension you could find these podcasts cool:
Otherwise on B2 level you should be able to start to absorb any material out there, so German wikipedia and any books written in German for reading, some german TV archives for watching, German TV shows...
To prepare for the exam you should buy the specific materials for B2, some of them are availible online, Goethe has good resources. To learn for this level I think DW.com has the best free resources. You need to talk, listen and write. You can get your writings corrected in lang-8.com and just listen to TV. podcasts etc. and try to take mock tests.