Navigate to the Course Homepage and click on the arrow to "Open block drawer".

Click on the settings button in the Level up block.

In the menu bar towards the top of the page, click "Points".

Click on "Add a rule" to begin adding a rule.

Add the number of points in the "points are earned when:" box, that you want the student to earn when they complete this rule.

Click on the conditions drop down box to select how conditions can be met to give points.

A pop up will appear with 4 different conditions:
It is recommended for new users to use the 'Specific event' and 'Activity or resource' conditions.

After selecting the condition type. Select the appropriate event for the student to satisfy the condition.
Add as many conditions to each rule as needed.

Add as many rules as required and click "Save Changes"

Events rules
Add a rule

 points are earned when:

ALL of the conditions are true
ANY of the conditions are true
NONE of the conditions are true

The event is 
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Setting up Level up! rules