Paragraph 302.4.2 is used to establish the system design pressure considering anticipated transients. When compared to the similar guidelines in B31.1 (see 102.2.4), there is no hydrostatic test pressure restriction. Once the system is placed in operation, B31.3 provides no guidance (see...
We have 304L SS piping systems with a low design pressure (dictated by installed components at 400 psig). Nominal hydrostatic test pressure is ~ 600 psig (testing in accordance with paragraph 345).
Pressure surges caused by valve operation resulted in pressure exceeding 600 psig, but resultant...
The PE Review Manual by Lindeburg is a good reference, but with it I would recommend purchasing the "Engineering Unit Conversions" (also by Lindeburg). It's a great reference in daily work also. Good Luck with the exam - it's well worth the effort!
Semo had a good idea - your local health department (or State water authority) should have sizing guidelines available for your use. The answer will depend on whether you will be installing a conventional pressure tank or one with a precharged bladder.
There are a few variables not mentioned, so the best help I can offer is a text reference - See "Engineering Hydrology - Principles and Practices" by Victor Ponce. The publisher is Prentice-Hall (ISBN 0-13-277831-9). Other texts on hydrology may have similar methods.