You are correct that ** is the power function.
^ is bitwise XOR.
% is indeed the modulus operation, but note that for positive numbers, x % m = x whenever m > x. This follows from the definition of modulus. (Additionally, Python specifies x % m to have the sign of m.)
// is a division operation that returns an integer by discarding the remainder. This is the standard form of division using the / in most programming languages. However, Python 3 changed the behavior of / to perform floating-point division even if the arguments are integers. The // operator was introduced in Python 2.6 and Python 3 to provide an integer-division operator that would behave consistently between Python 2 and Python 3. This means:
| context | `/` behavior | `//` behavior |
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| floating-point arguments, Python 2 & 3 | float division | int divison |
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| integer arguments, python 2 | int division | int division |
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| integer arguments, python 3 | float division | int division |
For more details, see this question: Division in Python 2.7. and 3.3
