In Australia, we have a ranking system (called UAI - University Admissions Index) based on the marks you got in your last year at High School (Called HSC here).
They then have certain pre-requisites such as having done 3-unit Math (whatever the equivelant to doing linear algebra, etc, is).
Everyone who applies gets put into order based on their rank, and the top ranking ones are admitted first.
This keeps going until they run out of applicants, or the course is full.
That gives the 'Cut-off' UAI.
For example, the year before I applied for my course, the UAI cut-off was at 88.50 (rankings start at 100.00, and go down in lots of .05 till 30, then anything below that is disregarded
).
I got 88.85, and was accepted pretty quick