Prior to the first class I was very aware that I knew nothing about the mathematical abilities of the incoming students. There is no prerequisite and consequently no minimum standard. I was told by a physics academic "we must get you teaching a more advanced course." Apparently teaching a more advanced course is far preferred, since you can assume a level of knowledge based on the prerequisites and teach to that assumed ability.
I couldn't help thinking about my own degree. I had several modules where I had barely scraped through the assessment for the prerequisite in semester 1, only to find it assumed that I knew the material perfectly in semester 2. I would therefore get immediately lost. Running to catch up, I would fare badly in the second module also. I think it is important to remember that even if you have an agreed level of knowledge on paper, it may not be reasonable to assume that everyone is up to that level. In the case of Scientific Mathematics, since there is no agreed level all students are at, I could assume everyone needed to know everything in the course equally, unless proven otherwise.
The other aspect of this was my own prerequisite knowledge. My first degree was in mathematics but I graduated from this almost 6 years ago and have done little advanced mathematics since. I was nervous enough at the prospect of teaching; at least in Scientific Mathematics I knew the material fairly well. Teaching some advanced module my first time out I would be petrified in case any of the students started asking questions!