Just as in the last exercise, the numbers in the title of the exercise indicate the root movement of the progression. Begin with C major, then move up a perfect fifth (in this case, G) and play the second chord, G major. Move back to C major (the 1), and then repeat the pattern by moving up a perfect fourth. Therefore, the second time you play the pattern you would play F, C, F (then Bb, F, Bb, and so on).
Once you feel comfortable with this exercise, start with a different inversion of C major in your right hand (try starting with E, G, C or G, C, E). Remember to always change as few notes as possible when moving between chords. In this exercise, you should always have to change exactly two notes in your right hand. Using this type of voice leading helps the music to flow more naturally.
Once you have this progression mastered starting on C major, start on C# major and perform the same pattern. This will allow you to cover all the major chords.
Please always make music. Arpeggiate the chords or try different comps over the chords, but make sure you are comfortable with the concept of the exercise first. You should work on getting these sounds in your ears and hands so that when you hear something like this in your head you can express yourself and play it!
I personally would notated this in 3/4 since it's 3 chords and then a change, but it's a great exercise. Pretty tough though, will have to work on this one for a while!
