I am a student and study mostly from PDF files given by our professors in college. i start reading and find some points important way before the exams. When exams are approaching in a day or 2, i find it very difficult to just go through the important points which i felt the previos time i read the topic.
So is there any highlighter (just like there is one in power point slide show) or something so that i can highlight these points and save them for future use.
There are many commenting tools available in Acrobat. Your professor has to enable their use for the pdf files under Reader.
Keep in mind that Adobe Reader isn't the only PDF reader available. A little Googling and you may find a reader that has what you want.
Or you could always go for the extra points by letting your professor know that he can possibly activate the file to add features for his students.