On the boards: you will be given a 2x2 (Test +/- and then Dz +/-) and you will be asked to calculate it.
In life: Liklihood ratio is the only relevant factor for clinical medicine. A large positive likelihood ratio means that if the test, the question, or the exam manuver is positive, your diagnosis is more likely. A very small negative likelihood ratio (closest to 0) means that if it is negative, the disease is less likely.
Most people think "hear story, get test, done." Thats a mediocre physician who doesn't understand clinical reasoning. Likelihood ratios are what actually matter: increasing or decreasing the likelihood that your diagnosis is or is not what you think it is.