We don't get "report cards" at my university, but that's how they do it. My last university was 4, 3, 2, 1. My current school sets it up this way:
A 4.0
B+ 3.5
B 3.0
C+ 2.5
C 2.0
D+ 1.5
D 1.0
F 0
Multiply the grade in the class by the number of credits...