These cards are used in my classroom to monitor behavior and communicate with parents on a weekly basis. The Key is listed at the bottom of the card - with letters representing work and numbers representing behavior.
I expect that these cards go home at the end of the week and are signed and returned with a parent signature.
For each quarter or trimester, I change the color of the Behavior Card and ask students to keep these paper clipped in their WAF (Weekly Assignment Folder - a different TPT download).
I like to keep these behavior cards for the entire marking period, so at conferences I can refer to work and behavior - which as we all know is related to student performance.