This question cannot really be answered. Each college, University, etc. has different expectations. Many modern Universities have no expectations at all for people coming in to do a degree in Latin or Classics. They start teaching from the ground up. Oxford expects a very solid A grade at A levels, which is a substantial understanding of Latin. Many Universities will have covered a fairly narrow survey of Latin at the end of the degree, with an equally narrow understanding of the language, but a good basis nevetheless. Oxford will have covered an extensive amount of literature, and expect a very complete understanding of the Language.
The Cambridge Latin series (which is what I teach) Will take you fairly far in terms of the language, but does almost no literature. You will be able to start reading literature, but only if you thoroughly learn what the Cambridge books have to teach. I teach up to Stage 40, then we begin to look at real Latin literature. The students find the transition difficult, but not impossible.
The only thing we can guarantee when communicating via the internet is that we will be almost completely misunderstood, and likely cause great offence in doing so. Throw in an attempt at humour and you insure a lifelong enemy will be made.