Students getting the results of their AS-levels this week face tough decisions.

They can choose to accept the results - or to reject them and possibly re-take.

What is 'cashing in'?

It is a feature of the new AS-level exams, the first results of which came out last summer.

It means basically that a candidate has accepted an exam result, which can then be used in university applications and as the first blocks, or units, of an A-level.

They will receive a certificate as the AS-level is a qualification in its own right.

They may decide not to continue with that subject, or can go on to do the remaining course units to enter for the A2s.

The AS-level and the A2s then make an A-level.

What is the alternative to cashing in?

Students who are disappointed by the result of one or more of their AS-level exams can choose to reject the result - and not to cash it in.

What is the point of that?

It wipes the slate clean, in effect, giving the student the chance to re-sit and get a better grade.

The qualifications remain "in the bank" and at a later date a student could change their mind and decide to accept the grade.

Can you re-take an exam once you have cashed it in?

Yes. You could retake it in January or June if you decide you need better results, but you will need to retake all three units of your subject.

What if you have not cashed in your AS-level - does that affect re-takes?

Yes. In this case, you could retake just one of the units - or all three if you wanted to.

What are these units?

Courses are made up of coursework and exams.

Each AS-level has three units. A-levels are made up of six units - three from the AS-level and three more taken in the second year in A2s.

What do you have to do to cash in your AS-level?

In practice, the school, college or other examining centre will deal with this.

You can apply to cash in your qualification when you are entered for a course or after sitting the exams.

Is there a deadline?

Yes. If you have taken exams this summer, the deadline for cashing in is 20 September.

However, a student who does not cash them in by the deadline retains the option to do so later. He or she could change their mind at a later date and cash in the qualification, claiming the grade they are entitled to.

Is that it?

No. It is more complicated than this, but your teachers will advise you.