It could mean that you get some (old) php4 code and are supposed to port it to php5.
In that case the code should run with the setting error_reporting(E_ALL|E_STRICT) without warning messages. Also check the description of each function/method whether it contains a "This function has been DEPRECATED" note/warning somewhere.
Imo likely candidates are: sessions, classes, ereg (posix regular expressions) maybe even register_globals and allow_call_time_pass_reference.
Maybe you're also supposed to spot the usage of "old" workarounds and to replace them with newer functions. E.g.
// $s = preg_replace('/foo/i', 'bar', $input);
// use php5's str_ireplace() instead
$s = str_ireplace('foo', 'bar', $input);
But that depends on the topics you've covered.
E.g. "Port this php4 code to php5":
<?php
class Foo {
  var $protected_v;
  function Foo($v) {
    $this->protected_v = $v;
  }
  function doSomething() {
    if ( strlen($this->protected_v) > 0 ) {
      echo $this->protected_v{0};
    }
  }
}
session_start();
if ( session_is_registered($bar) ) {
  $foo = new Foo($bar);
  $foo->doSomething();
}
And the answer could be
<?php
class Foo {
  // php5 introduced visibility modifiers
  protected $v;
  // the "preferred" name of the constructor in php5 is __construct()
  // visibility modifiers also apply to method declarations/definitions
  public function __construct($v) {
    $this->v = $v;
  }
  public function doSomething() {
    if ( strlen($this->v) > 0 ) {
      // accessing string elements via {} is deprecated
      echo $this->v[0];
    }
  }
}
session_start();
// session_is_registered() and related functions are deprecated
if ( isset($_SESSION['bar']) ) {
  $foo = new Foo($_SESSION['bar']);
  $foo->doSomething();
}