Psych 101 is the first of the first-year units - see also PsychologyPSYC1102.
This is a straightforward unit, and well worth it if you can't decide what to do in first-year.
It's taught by an ever-changing roster of the Psych staff, and is a good way to get used to taking notes from stacks of different lecturers. iLectures are made available with full video so don't worry if you have a couple of clashes.
Labs are allocated two hours and can generally be shortened a lot, so pick an afternoon one if you can because that way the tutor wants to go home as much as you do.
The exam is a stack of multiple-choice (most of which you will have seen before in the labs) and a couple of essays. You get the list of questions beforehand and they pick a couple off it, so split the essay questions up with some friends or lab group and try and get them all pre-written - they're pretty easy.
Psych 101 is pretty easy, although it can be a bit boring. 102 is more interesting. If you're having trouble understanding the actual coursework (as opposed to getting it done) you might want to reconsider this whole Uni thing.