Can points for reviews be put on "pending" status until approval?

Yes, certainly. Review points will automatically go into pending status until they've been approved by an administrator. This reduces the likelyhood for abuse (ie. writing reviews for the sake of accumulating points) and ensures that administrators have full control over their rewards programs. Please refer to the links below for some more input on points transfers and status. 

/article/1568-managing-point-transfers

/article/1599-configuration-initial-points-transfer-statuses

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