IF you take your step 1 say in 5th or 6th semester would the residency directors look down on it? Is it a bad thing? Also when should it be taken to be considered on schedule? Our school lets us take the step 1 any time before we graduate.
I don't really think PDs care about when you take your Step 1 because there are some schools where students don't take it until after 3rd year. However, if you're trying to study for boards during 3rd year rotations (which I assume is your 5th and 6th semesters), that'd be really tough. Just take it whenever you have 4-6 weeks of free time between now and before residency application.