Ok, so how is it assessed whether a kid is more intelligent than others? Do they take regular IQ tests at school for this? Also, if a gifted kid is studying in the same class as other kids with not so high an IQ, how does it matter if that kid is gifted or not? (Will get consistently good grades, yes, but besides that?) Does a gifted child graduate as the same time as other kids of that age? Does he get more preference at higher studies levels?

As you can see, I'm quite ignorant on this topic! But extremely curious!