Does anyone know how much value they put in every component? Usually how long is it? Is the instructor strict? What is it like when you first go in until you come out? Do they stop you in the middle of a piece? What's considered a good mark or a bad mark? What's a failing mark? Anything else I should know? And what should my progress look like for the next two months? Like by when should I have them memorized and perfected?
... for the rest of the questions you asked here my suggestion would be to talk with students a grade level above you and see what their experiences were like. If, for some reason, that isn't possible, then consider asking your instructor what they expect of a successful student in their class.
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