When we graduate from university, we usually have double certificates, that is, graduation certificate and degree certificate. However, there are also students who can't get a degree certificate because they failed in the exam and failed in their graduation thesis defense (rarely, usually because of the former).
I have seen such an example myself. These students relaxed their requirements because they were admitted to the university. They only know how to play games and go out to play all day, which leads to failing subjects every semester. After four years of accumulation, they failed to get a degree certificate because of too many failed subjects.