Does anyone have Soldier of the Month Board advice, and specifically examples of "Situation Based" questions?

You're looking at pretty well anything that isn't straight out of a TM, FM, AR, etc. For example:

Out of the five styles of leadership, which do you prefer and believe is the most effective?

How would you handle a Soldier that repeatedly refuses to obey an order?

Which of the Army Values do you feel that your sponsor/supervisor/the Sergeant Major sitting right there in front of you has the toughest time upholding?

The best advice I can give is just to be confident (but not cocky) even though you may not feel it. Part of a Board is what you know, and part is seeing how you handle yourself in what is typically an at least a semi-stressful situation.

If you don't know an answer, say you don't know. Don't try to fumble through and make it up as you go. Try not to say, "Uh" or "Um" while you talk, either.

Put chapstick on before you go in so you don't lick your lips (you may never have licked your lips when you're nervous before, but I know many people who only do that when in front of a Board). Also, even when told to "relax" when sitting in the chair, keep your hands in a fist as if at "Attention" on your legs so you don't twitch or fumble with your fingers.

They're also bored out of their skulls from sitting there all day asking the same questions, so they're going to probably mess with you a little bit and see if they can distract you.

All in all, just remember that they want to see how well you put together your uniform, what you know, and how you carry yourself. If you're prepared (which I assume you are if you opted for the Board), you should do fine. Talk with your NCO's & others who've gone through at least semi-recently and get their advice as well. They'll have a better idea of what exactly those particular Board members are looking for or what items they're sticklers on.

Pay attention to SSG James J. Palmer IV aka "JP4" 's recent posts.
https://www.rallypoint.com/answers/leadership-development-scenario-4-what-support-would-you-provide-if-one-of-your-troops-was-experiencing-severe-martial-problems
https://www.rallypoint.com/answers/leadership-development-scenario-1-how-would-you-handle-this-scenario-involving-a-new-servicemember-and-their-family-arriving-to-your-unit?loc=similar_rside&pos=2&type=qrc
https://www.rallypoint.com/answers/leadership-development-scenario-2-what-would-you-do-if-subordinate-came-to-you-with-physical-signs-of-domestic-abuse?loc=similar_rside&pos=3&type=qrc
https://www.rallypoint.com/answers/leadership-development-scenario-3-how-would-you-handle-a-situation-where-one-of-your-troops-wives-experienced-a-miscarriage?loc=similar_rside&pos=4&type=qrc

The others have mentioned it as a type of question that requires a personal answer and not necessarily a book answer. I had a co-worker go before a SOM board where I was the recorder. He was asked a situational question in a combat situation about being under fire and having a fellow Soldier injured in front of him and what is the first thing he would do. He tried to get technical by stating he would first assess the situation and so on and so on. The answer the board was looking for was to simply take cover first. Situational questions are made to make you think, sometimes outside of the box. The board wants to see how you respond to real or fictional situations. Civilian jobs do the same thing. I recently had to take an online test for a supervisor position and they had questions that ask what you would do in certain situations. Some are tough and require thought but they want to see how you think. It could be something like you are about to have an inspection and you are missing something. A co-worker, who is a friend, "acquires" that item. You know it is wrong but you will get written up for not having the item. Do you call out the co-worker and possibly tarnish the friendship? Do you let it go so you can pass and then deal with it later? Do you let it go altogether? I hope this helps, good luck on the board.