2.30 understand that bile is produced by the liver and stored in the gall bladder

Bile:
Bile is produced in the liver and stored in the gall bladder. Bile can pass from the gall bladder down the bile duct, which then mixes with the contents of duodenum after acidic chyme leaves stomach. This neutralises the stomach acid, and prevents enzymes in the small intestine to denature. Bile is alkaline, so when it is released into small intestine it enables enzymes to work, as it neutralises stomach acid.
Bile also emulsifies lipids, increasing the surface area of lipids which makes it easier for lipase to break it down,

Exams ALWAYS ask long-mark questions (4-6 marks) about bile. One of the most common is "explain the importance of bile to intestinal digestion", or something similar.
Mark schemes usually look for the following points:
- produced in the liver
- stored in gall bladder
- pH is alkaline
- neutralises stomach acid
- prevents enzymes denaturing/provides optimum conditions for enzymes
- emulsifies fats: increases fats' surface area
- speeds up digestion by lipase

These are things that simply needs to be memorised.