It's taken to be exemplary (4)
I believe the answer is:
lead
'taken to be exemplary' is the definition.
I can't tell whether this defines the answer.
'it's' is the wordplay.
I cannot really understand how this works, but
'it' could be 'e' ('e' can mean 'electronic' which is similar to 'IT') and 'e' is found within the answer.
The remaining letters 'lad' is a valid word which might be clued in a way I don't understand.
This may be the basis of the clue (or it may be nonsense).
Can you help me to learn more?
(Other definitions for lead that I've seen before include "Leash -- Pb" , "Wire - show the way" , "Heavy malleable metallic element" , "First put down spade, say" , "Show the way; soft metallic element" .)