This exercise is from the Core Skills section on Fingerpicking.
You don't have to just fingerpick using patterns like the last exercise.
A common technique is to fingerpick strings at the same time. We do that here using a simple chord shape moved up and down the same strings. All but the last chord involve fingerpicking using only 3 strings. The chord sequence ends with good old E major, 4 strings are fingerpicked for this chord.
The chord progression here is a series of major 'triads' (see our theory section to know more). The chords in the ActionTab are as follows:
G - C# - G - C - G - C# - E - C - B - E major (repeat)
The slow pace should help you concentrate a little more on co-ordinating both hands together in doing their separate jobs.
This is a very simple exercise with a somewhat weird but cool bassy chord sequence. Each chord is a major chord. Simply play each of the 3 strings with T12 fingers together at the same time. The last E major chord is played on 4 strings and is the only exception (T123).
This will help you to get comfortable with moving up and down the fretboard by using one simple chord shape. It is ideal for new beginners to begin navigating around the neck comfortably and learn the basics of picking chords with fingers.