Okay, I just did the Shifa Entrance Test 2012 and since Shifa doesn't give much help for their entrance test, this is the help I can give to future applicants. Feel free to give your opinion, but this is only my opinion on the test. The test is overall quite difficult and you need to be mindful of the time. A few But here's what I can say about the test contents at least for 2012:

Physics was very hard, the questions were time consuming, and I didn't know the formula for many of them. I had to skip a few, because of negative marking. I don't remember any question from modern Physics or Atomic Spectra, they were mostly about forces.

Chemistry wasn't all that hard, just that most the questions were from 'Stoichiometry' which made them time-consuming calculations. If you knew about molarity, molality, gas laws and what not, it wouldn't have been much of a problem for you. Those formulas had to be on our fingertips at least in 2012's paper. There were few questions that weren't calculations. Surprisingly, I don't remember doing a question about Organic Chemistry this year. But I could be wrong.

This was relatively easy because a lot of it was about Human Physiology. Quite a few questions from Reproduction specifically. Also, since there are not too many calculations possible in Biology, I was done with it relatively quickly. But they didn't ask any questions about plant or animal classification this year.

There were only five or six vocabulary questions. It was mostly about terms like 'What does having a worm's eye view mean'.

Maths was much harder than I expected it to be, I was expecting pretty basic sort of questions which I could handle without paying too much attention to Maths. What were asked were questions from sets and difficult questions which required you to certainly revise Maths from at least Matric or O-Levels.

General Section:
I actually found this to be very easy because I had thoroughly gone through the Iqbaliat booklet they gave us. But they took some time because you had to read a paragraph before every question. There's an IQ test, questions about ethics which ask about having to perhaps break rules or follow them in certain situations. But it's a bit unfair because a lot of what they ask depends upon opinion and personality, you have to kind of look at it from a 'western perspective'. One question that really took me by surprise was 'When was the Ramazan moon spotted in most of Pakistan' in the current affairs section. It wasn't really that political as shown on the sample.

A few tips:
-Make sure you check the right option or actually leave a space for questions you skipped. They make you attempt MCQ's with a pen so you can't change your answer. I got four questions in a row wrong because I wrote in the space of a question I left.
-Bring a watch, there was no watch in the exam center, only a guy giving you hourly notifications.
-Do not make wild guesses, there is negative marking. So it's wise to actually leave questions if you have no idea how to do them. You could attempt it if you single out two options.
-The sample test they gave this year was very conceptual with neat diagrams and easy questions. The reality is that there was only one diagram question in the whole test about an action potential of a neuron. Maths on the sample was easy, in reality it was much harder. It's a hard test, remember? The sample was not hard while the test was.

You can add stuff through comments. Again, this is only what I felt the paper was like because of my personal preparation for the test. It was probably different for everyone else. But I've tried to give facts about the paper. Wish all those who appeared good luck and a great result. Hope this helps students in the future as well.