The independent study procedure is fairly simple: read the material for a unit, do as many of the recommended problems as you need to feel comfortable with the material, take a sample test, then go get an instructor type person to give you a real unit test [*]. Repeat for the next unit until out of units. Finally, there is a final. Don't worry, it's not too big. It covers material from the entire course. Sample tests are in both Xdvi or Portable Document Format (PDF); the latter requires Adobe Acrobat Reader.
There are several ways that you can do the reading for a unit. One option is to just read the indicated World Web Math entries, when they are available. Another is to do the readings from a textbook (Currently, only Calculus with Analytic Geometry by Simmons is supported.) Probably the best way is to do both.