Math quiz for teachers & students
First thoughts: 

The user is prompted to enter the class number after taking the test, and if it's not a valid number the program exits. This means they lose the results of the test. You could ask that question up front. 

There's a large gap between the check to see if status is '1' and to see if status is '2'. I'd put the code for the student and teacher in functions, so that the result looks more readable:

def student_questions():
    pass

def teacher_questions():
    pass

if status == "1":
     student_questions()
elif status == "2":
     teacher_questions()


There's a lot of prompting the user for input and then checking to see if it's valid - that could easily be a function. 

def ask_question(question, valid_answers):
    while ...
         print ...
         input ...
         if input is valid: return input


The only other comment I'd make straight away is that while choosing the operation at random works, it does mean that one student might get all divisions, others get a broad selection, and so on. Perhaps there needs to be a check to make sure that each student gets at least one of every type? Or a non-random selection?