Does This Seem Right to You?

I'm working with some collegues on grading and actions at work. This is university policy, does it seem cricket to you:

The undergraduate student Grading Standard is as follows:

Grade.........Quality Points....................

A................4.0..................................Excellent

B................3.0..................................Good

C................2.0..................................Satisfactory

D...............1.0..................................Passing

R................0.0..................................Failure