Exam results, those of us who are in the UK get ours today... the UK education system runs thus:
Nursery > School > College > University (Or out into the work place).
College is typically for 16-18 year olds, which is what I'm in now. There are two exams during this time - AS and A levels, AS is half an A Level, and all the courses we do are/can be split into two - so you can drop a course after only one year and only have an AS result in it - continuing it to the second year means that you'll have an A level in it... don't worry if you don't get this, it confused the hell out of me when I first heard about it

And depending on what AS/A level results you get it determines what universities you can apply for and so on - so the better you do the more oppertunities you get.
Suffice to say, it means a lot - wether it's AS or A level results.