Wow can't believe, that it has been 20 years since I got mine (in the picture)
For those of you unfamiliar with the hat, it is the symbol that a young boy/girl has passed the final oral exam towards being a student. Here the word student equals the word "graduate", and the school is a gymnasium resembling what equals to be the high school diploma. You can also graduate from a business school, but then it will be blue instead of burgundy.....
You receive it the when you get the grade from the final oral exam, wear it at the graduation ceremony with the class of your year.....actually you wear it everyday from the exam and approximately one week after the ceremony as these days involve a whole lot of partying.
Your grade average will determine which studies, that you can pursue pending on the number of applicants and their averages, as there are only a certain amount of spots at the universities/colleges - and you have to chose from the beginning which major you want to pursue: math, physics, law, medicine, Spanish etc.