Its funny cuz for my Alpha Gam chapter ( and Im sure all the others) you dont learn rituals until you are initiated.
Michigan Process:
Get your bid, and the same night have the new member (not pledges) ceremony.
Start Fraternity Ed (know all 11 founders, what the symbols mean, how we got started etc.)
Carry -In (Where a fraternity carries girls over the threshold of their new house)
14 Pearls have to be completed like a week before initiation.
3 Ceremonies that are mandatory (unless you have class or something)
Fraternity Ed Test (yes we have to take a test)
Fireside
then....Initiation.

As far as grades go, you still are initiated before they come on, but afterwards if they arent up , your not on good standing with headquarters. Finances do have caught up before you can though.

I think my chapter feels there isnt enough time to do it.