You can choose your own grading profile (ie: the grade / result you want to give to the learners). You can automatically give a numerical score (eg: # / 100, # / 55).There are also some college wide scales that are already set-up.These are:
•Pass, Merit, Distinction
•Pass, Merit, Distinction and Refer
•Pass, Merit, Distinction, Refer, Submitted
•A,B,C,D,E
If you want some other grading options you can set up your own for your course. You can use any of the grading scales (college wide or course specific) on any graded activities in your course (eg: assignments, discussion forums, wikis etc).