The grading policy affects several aspects of grading, from the availability of feedback to the point deduction per attempt. To learn more about the grading policies for each assignment type, visit the following help articles.
Points possible range from 0 (no grade) to 100 in integer steps. Note that changing the points possible will show a different point total in your gradebook, but not in the assignment itself.
If you change the points possible after one or more students have already started the activity, there will be a slight delay as their scores are updated. Changing the points possible will properly scale any existing scores. For example, 50/100 would become 25/50 if you changed the total points possible to 50.
If grade categories are configured in your gradebook, you can use the Grade Category drop-downs to select a category for each assignment.