YOu have been given two black and white charcoal pencils. Set up a still life using cardboard boxes and cloth like the image on the left. AP wants to see that you can handle drawing the folds, shadows and highlights of a cloth that is draped over something. Select different kinds of cloth with patterns, stripes and solids. Have different values of cloth.
Then draw way. Make this one count because it should take you a very long time to finish, you don't want to have to make this up when you get back to school. This drawing should take you 25 hours to complete. Really make it count. You will want to go to Michael's and pick up some large piece of gray pastel/charcoal paper.
YouTube has a huge number of tutorials out there to explain how to build up value in charcoal drawings. Don't hesitate to look at some videos first.