You should be able to do basic algebraic manipulations for the MCAT although this particular equation is likely low yield.
Ignore the zero on the right side. Just work with the left-hand equality. 1) Subtract y0 from both sides 2) Subtract (1/2)at^2 from both sides. Divide both sides by t. This gives you the first equality on the bottom. Then, you probably copy and pasted this from some specific problem where the displacement in the y direction is 0. Which gives you -(1/2)at^2/t, which reduces to -(1/2)at.