You will be graded/marked by your assessor (your tutor/teacher) as an on-going process. He/she will give you guidance and feedback to help you raise your standard until you meet the full criteria. Only then will they be able to pass your portfolio to the next level - the Internal Verification process. There are no grades as such. You are either competent or not, ready for moderation or not.
Remember that if you disagree with your assessor's decision about your competence, and you're sure that you're ready for moderation, you can always contact the Internal Verifier at your school or college for a second opinion.