Dispensational Theology is usually understood:

The number of dispensations may vary from three to eight, but the typical seven-dispensation scheme is as follows:[7]: 51–57  Innocence – Adam under probation prior to the Fall of Man. Ends with expulsion from the Garden of Eden in Genesis 3. Some refer to this period as the Adamic period or the dispensation of the Adamic covenant or Adamic law. Conscience – From the Fall to the Great Flood. Ends with the worldwide deluge. Human or Civil Government – After the Great Flood, humanity is responsible to enact the death penalty, and has the authority to govern. Ends with the dispersion at the Tower of Babel. Some use the term Noahide law in reference to this period of dispensation. Promise or Patriarchal Rule – From Abraham to Moses. Ends with the refusal to enter Canaan and the 40 years of unbelief in the wilderness. Some use the terms Abrahamic law or Abrahamic covenant in reference to this period of dispensation. Law – From Moses to the crucifixion of Jesus Christ. Ends with the scattering of Israel in AD 70. Some use the term Mosaic law in reference to this period of dispensation. Grace – From the cross to the rapture of the church seen by some groups as being described in 1 Thessalonians and the Book of Revelation. The rapture is followed by the wrath of God, constituting the Great Tribulation. Some use the term Age of Grace or the Church Age for this dispensation. Millennial Kingdom – A literal 1000 year reign of Christ on earth (Revelation 20:1–6), centered in Jerusalem, ending with God's judgment on the final rebellion. Christ's work on the cross is the New Covenant, by which people are reconciled to God sola gratia, and it includes various promises given in Old Testament times. The Abrahamic and Mosaic covenants were temporary covenants—the latter were for the (generally unbelieving) people of God, Israel; and had their fulfillment in the New Covenant. The New Covenant law is the Law of Christ, which includes the commands of his Apostles. The New Covenant is the spiritual fulfillment of the Abrahamic covenant.[citation needed] Adherents believe that the New Covenant came into effect with ministry of Jesus, such as at the Last Supper when Jesus said in Luke 22:20 "This cup is the new covenant in my blood, which is poured out for you." The New Testament, echoing Jeremiah 31:33, also states, “This is the covenant I will establish with the people of Israel after that time, declares the Lord. I will put my laws in their minds and write them on their hearts. I will be their God, and they will be my people.” Hebrews 8:10, NIV Thus, the New Covenant is a gracious covenant. Those included in the covenant are reconciled to God by grace alone, apart from anything they do. Jesus purchased a people by his death on the cross so that all those for whom he died receive full forgiveness of sins and become incurable God-lovers by the Holy Spirit. They have thus become his new creation. Thoughts?