Instructor will review your image individually with you in class to give feedback. Grade is not on quality of work at this point, but on your progress only.
At this point, you should have all your source images collected and at least roughly placed to form a composition. Image size and resolution should be correct for the final image.
Submit PSD to Classes folder BEFORE CLASS BEGINS. (You may submit another file at the end of class to show your progress, but that's not required.)