The object of this exercise is to play all the notes correctly.
Here is the C major Scale it is based on:
The rhythm is the same for each "verse" If in doubt as to how to read rhythm, go back to the theory page and read up on How Long Do I Count Them For?
I will add a section on bass clef notes later this week for those who need to learn their rudiments as well as practise reading in a practical way!
Then listen to the MP3, then play through the exercise a few times without backing.
Finally try reading and playing with the MP3.