Animal loses tail with second-rate firecracker (5)
I believe the answer is:
squib
'firecracker' is the definition.
(I've seen this before)
'animal loses tail with second-rate' is the wordplay.
'animal' becomes 'squid' (squid is a kind of animal).
'loses tail' means to remove the last letter.
'with second-rate' becomes 'b' (second grade after A. I am not sure about the 'with' bit.).
'squid' with its final letter taken off is 'squi'.
'squi'+'b'='SQUIB'
Can you help me to learn more?
(Other definitions for squib that I've seen before include "piece of satire" , "Small hissing firework" , "Lampoon; firework" , "Jumping firework" , "Firework, burns with a fizzing noise" .)