The slang exercises are even great for native speakers. Many times among natives we cannot understand the meaning of a conversation, much less a joke, since there are words that are of very local use and very informal registers. The same phenomenon of misunderstanding, added to the natural process of development of listening ability, is experienced by a second language speaker.
It is not about learning all the idioms, since the base of the second language must always be the pan-Hispanic norm, but it is important that the most used ones be accessible.
Change the words in i|talics for these: gasofa, estar al loro, garito, por la patilla, guay.
-Qué bien que al final podremos ir todos a tu fiesta.
-A Pedro le dieron un pelotazo porque nunca presta atención.
-El otro día fuimos a un bar muy guay que estaba cerca de mi casa.
-Me fui de viaje y cuando entré en la autopista me quedé sin gasolina.
-Ayer fui con Marta y Laura a la discoteca y nos dejaron entrar gratis.