So ,,, first about the money used in the wizarding world -------------------------

A fictional system of currency is used by the wizards of the United Kingdom. The currency uses only coins as the units of account. It is based on three types of coin; in order of decreasing value, the gold Galleon, the silver Sickle, and the bronze Knut. Wizarding banks provide money-changing services for those with Muggle currency. The only reference to a bank in Harry Potter is Gringotts, which is located on Diagon Alley in London and has hundreds of vaults. In these vaults, a person can keep whatever he wants (like a security vault). Hagrid indicates that wizards have "just the one" bank.

*** Coins

The Galleon is the largest and most valuable coin in the British wizard currency. It is gold coloured, round and larger than the other coins are.

Around the rim of the Galleon is inscribed at least one serial number, which identifies the goblin who was responsible for minting the coin. In Harry Potter and the Order of the Phoenix, Hermione enchants fake Galleons to show the time and date of the next Dumbledore's Army meeting instead of the serial number.

**** Exchange rate

One Knut is One Sickle is One Galleon is
1 Knut 29 Knuts 493 Knuts
0.03448... Sickles 1 Sickle 17 Sickles
0.002028... Galleons 0.05882... Galleons 1 Galleon

In a 2001 interview J. K. Rowling said a Galleon was approximately five pounds (i.e. approximately US$7.50 or €5.50), although "the exchange rate varies."

In the book Fantastic Beasts and Where to Find Them, it is said that the £174 million raised for charity is equivalent to 34,000,872 Galleons, 14 Sickles, and 7 Knuts (the figure is truncated to 34,000,000 galleons in Quidditch Through the Ages). This means that £5.12 = 1 galleon. However, the book's cover price is £2.50 ($3.99 US), or "14 Sickles and 3 Knuts," which implies either an exchange rate of £3.01 = 1 galleon or a 41% discount to Muggle purchasers.

******************* See this :::

Converted into other currencies

With this information, we can calculate the value of wizarding currency in Muggle money. The amounts below are approximate, and were accurate as of 1 September, 2007.

1 Galleon 1 Sickle 1 Knut
GBP £5 £0.29 £0.01
USD $7.35 $0.59 $0.02
€ €7.39 €0.43 €0.02
JPY ¥1,168 ¥68 ¥2
CHF 12.17 Fr. 0.71 Fr. 0.02 Fr.
AUD $12.36 $0.72 $0.03
CAD $10.65 $0.62 $0.02
ZAR R72.24 R4.19 R0.15
INR Rs. 413 Rs. 24 Rs. 0.83
HKD $78.629 $4.561 $0.157
PHP P413.69 P24.19 P0.82

************ Additional ..

Fake Galleons

Galleons made of Leprechaun gold were common at Quidditch games where Leprechauns are the mascots for the Irish team. These galleons are occasionally in temporary circulation (they vanish a few hours after appearing), but goblin experts at Gringotts can differentiate them from real ones.

Hagrid used Leprechaun gold fake Galleons at a Care of Magical Creatures class, while teaching students about Nifflers' ability to hunt for shiny objects like coins.

Hermione Granger fabricated fake Galleons for members of Dumbledore's Army as a means of conveying clandestine communication about the time of future meetings.

Ludo Bagman used Leprechaun gold to pay Fred and George after their bet resulting in them blackmailing Ludo with no luck.

------------------------------------------------------------- Check this link too ...
http://www.calctool.org/CALC/other/fun/galleons
http://harrypotter.wikia.com/wiki/Wizarding_currency
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**** Ranking system for wizards :

There are not such particular rankings in the Harry Potter series. But there are different ranks in the Ministry of Magic.The Ministry of Magic is the Government for the magical community of Britain. The Minister for Magic is the superior .. then comes his senior advisor ..then .. the heads of various departmens like Magical Law Enforcement , Aurour office and other different departments in the ministry.. then the junior heads , secretories .. and then comes the monor staff and workers ..

See this :::::::::::: you'll find everything :::

http://en.wikipedia.org/wiki/Ministry_of_Magic

Other than that at Hogwarts there is the Headmaster,deputy headmaster , then the heads for various subjects ......
Among studens .. Head boy and girl , prefects , quidditch captains ... are there. Then there are students from 1st grade to 7th grade.

*** Rewards given when they have performed well ::::::::::::::::::::::::::

Special services award for Hogwarts school
Quidditch cup
House championship

******* Quidditch Cup

Champions Book
Ravenclaw Harry Potter and the Philosopher's Stone
Competition cancelled
due to attacks on students Harry Potter and the Chamber of Secrets

Gryffindor Harry Potter and the Prisoner of Azkaban

Competition not scheduled
due to Triwizard Tournament Harry Potter and the Goblet of Fire

Gryffindor Harry Potter and the Order of the Phoenix
Gryffindor Harry Potter and the Half-Blood Prince
unknown Harry Potter and the Deathly Hallows

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*** Different Tests ::::::::::::::::::::::

The Hogwarts students have got their term tests regularly ..

During their first four years, students need only to pass each of their subjects before advancing to the next level the following year. Regular exams and lessons usually seem to be graded on a numerical scale from 0 to 100, even though Hermione is known to have received 112% in Charms in Philosopher's Stone, and 320% in Prisoner of Azkaban in Muggle Studies. If students fail in their year, they need to repeat it in the following school year. To qualify as a registered practitioner of magic, students must study for the compulsory Ordinary Wizarding Level (O.W.L.) examinations taken at the end of the fifth year. If a student scores well enough on an O.W.L., he/she may take advanced classes in that subject for the final two years in preparation for the Nastily Exhausting Wizarding Tests (N.E.W.T.), an in-depth examination given at the end of the seventh year. In general, a U.K. student takes only three or four A-Level subjects and exams, just as a typical Hogwarts student takes only three or four N.E.W.T.-level subjects.

Most O.W.L.s consist of two parts, a written theoretical test and a practical demonstration of skills before the examiners. Subjects are graded on the following scale:

Passing Grades

* O = Outstanding
* E = Exceeds Expectations
* A = Acceptable

Failing Grades

* P = Poor
* D = Dreadful
* T = Troll

The O.W.L.s roughly corresponds to the General Certificate of Education O-Level (now replaced by the GCSE), and the N.E.W.T.s to the A-level examinations used in the English, Welsh and Northern Ireland secondary school system. In order to proceed to a N.E.W.T., a student usually needs to have achieved at least an E in the O.W.L. of the same subject, although some professors (e.g. Professor Snape) insist upon a grade of O. Students who fail in their exams or who do not achieve high enough grades do not continue with the subject in their sixth and seventh years.

At the end of their fifth year, students speak briefly with their head of house to decide which classes to continue in depending on their O.W.L. scores and their goals after school. The classes they decide to continue are considerably more advanced. Because they dropped one or more classes, students in their sixth and seventh year may get several class sessions off per week. The heavy workload that each of these classes requires means that students usually spend these times studying and doing homework. At the end of their seventh and final year, students take the N.E.W.T. exams, which test what the student has learned over the past two years. Many professions require high grades in these tests, meaning that students must work very hard to ensure that they pass.

**** Other than this the students have to participate in an Apparition Test to get the liscence for apparition after having some lessons from a ministry tutor .

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Hope my answer helps you ----------------------------
Source(s):
experience through Harry Potter books and movies , wikipedia , google


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