Here is how to gain (or lose) Karma Points on your profile. Pay attention to this, as you may see contests based on these points (hint . .hint . .hint . .)

Add an application +1
Give 1 point when registered user add new application.

Remove an application -1
Deduct 1 point when registered user removes application.

Upload a photo +1
Give 1 point when registered user uploads a photo.

Add a new group +3
Give 3 points when registered user creates a new group.

Add new group discussion +2
Give 1 point when registered user created new discussion on group.

Leave group -1
Deduct 1 point when registered user leaves a group.

Approve friend request +1
Give 1 point when registered user approves a friend request.

Add new photo album +1
Give 1 point when registered user adds a new photo album.

Post on group wall +1
Give 1 point when registered user posts on wall in group.

Join join group +1
Give 1 point when registered user joins a group.

Reply to group's discussion +1
Give 1 point when registered user replies to group's discussion.

Post on a wall +1
Give 1 point when registered user posts a wall on profile.

Profile status update +1
Give 1 point when registered user updates his/her profile status.

Profile update +1
Give 1 point when registered user updates his/her profile.

Update group +1
Give 1 point when registered user updates a group.

Upload group avatar +1
Give 1 point when registered user uploads an avatar to group.

Create group's news +1
Give 1 point when registered user adds to a group's news.

Comment on a photo +1
Give 1 point when registered comments on photo.

Remove Friend -1
Deduct 1 point when registered user removes a friend.

Upload profile avatar +3
Give 3 points when registered user uploads a profile avatar.