Paper exercise around large case study (7)

I believe the answer is:

example

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'case study' is the definition.
'example' can be an answer for 'case' (I've seen this before). I am unsure of the 'study' bit.

'paper exercise around large' is the wordplay.
'paper' becomes 'exam' (exam paper).
'exercise' becomes 'pe' (Physical Education).
'around' means one lot of letters goes inside another.
'large' becomes 'L' (eg in clothes sizes).
'pe' going around 'l' is 'ple'.
'exam'+'ple'='EXAMPLE'

Can you help me to learn more?

(Other definitions for example that I've seen before include "Illustration or model" , "not the actual version" , "Specimen, illustration" , "Illustrative exercise" , "Illustrative case" .)

I've seen this clue in The Guardian.

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