What is it and why should I do it?

It's a compulsory VM subject. You must complete the Numeracy units in order to gain your VCE VM certificate.

How much homework/study will I have?

None. All work done in class. 

How do I satisfactorily complete the unit?

This is a continuation of Unit 1&2. The areas not covered in the unit 1&2 outcomes will carry over into 3&4. This will be decided by the teacher and the class and will vary from year to year. In order to complete the unit you will need to receive a satisfactory result for the assessment tasks for each outcome. These are likely to be reports, presentations, investigations etc. There is no exam. The VCE attendance policy also needs to be adhered to. 

Give me all the details I want to know more:

https://www.vcaa.vic.edu.au/curriculum/vce/vce-study-designs/VCEVMNumeracy/Pages/Index.aspx