So I have been wondering about that.. Has anyone ever gotten that when they made a new account? I've always gotten 2nd class.
If I recall correctly, you'll get the 1st class graduation certificate if you graduate after getting 15+ credits and completing the top student quest (qiuaner's quest), 2nd class graduation certificate if you graduate with 15 credits and 3rd class if you graduate with 5 credits only, which is the minimum. Quitting the training and graduating with no credits shouldn't get you any graduation certificate at all.
ok.. i did 100 score points + killed quainer + got the top student weapon from michael´s and i still got the 2nd class certificate.
i give up for now... i think this item is not even in the game or this quest has a bug or something like that