Passed, albeit exhausted (5)
I believe the answer is:
spent
'exhausted' is the definition.
('spent' can be similar in meaning to 'exhausted')
I don't understand how the remainder of the clue works.
Can you help me to learn more?
(Other definitions for spent that I've seen before include "Used up; exhausted" , "Expended" , "Worn out, having laid out money" , "Burned-out" , "Exhausted, having paid money?" .)