1.5 Grade
The Grade section of the iCMA definition form

Grade category: The category in the Gradebook under which the iCMA is listed.
Attempts allowed: For a formative assessment it is likely that you will wish students to attempt the assessment as often as they feel necessary both immediately after studying the associated text or as a revision exercise prior to examinations. Consequently for formative assessments 'Unlimited attempts' is a sensible setting.
For an assessed assessment the correct setting is '1'.
Advanced settings
These settings are set to the OU defaults and are rarely changed.
Grading method: Default OU setting = Highest grade. This setting controls what is sent to the Moodle Gradebook. Moodle keeps the scores on all attempts and can therefore offer a variety of grading modes. For an iCMA that forms a formal part of a student’s module marks, students can make only one attempt and hence all of Moodle’s ‘Grades’ give identical results. For formative iCMAs perhaps it is best if ‘Highest grade’ is always used.
1.4 Timing