Glossary – Letter Q

Qualifying Educational Institution

A Qualifying Educational Institution is an educational institution in Canada that is a university, college or other educational institution that is:

a) designated by the Lieutenant Governor in Council of a province as a specified educational institution under the Canada Student Loans Act

b) designated by an appropriate authority under the Canada Student Financial Assistance Act,

c) designated by the Minister of Higher Education and Science of the Province of Quebec for the purposes of An Act respecting financial assistance for students of the Province of Quebec.

Qualifying Educational Program

A Qualifying Educational Program is a program of not less than 3 consecutive weeks duration that provides that each student taking the program spend not less than 10 hours per week on courses or work in the program, and meets the following requirements:

  1. The program must be at the post-secondary school level or be taken at an educational institution referred to in point #2 of the definition of Post-Secondary Educational Institution, and
  2. If the beneficiary takes the program during a period in respect of which the beneficiary receives income from an office or employment, the program is not taken in connection with, or as part of the duties of, that office or employment.

Quality bias

This bias arises because some of any increase in the price of a fund may be due to an improvement in quality, rather than being a pure price increase.

Quarterly Growth at an Annual Rate; Annualized Quarterly Rate

A percentage rate of change calculated by comparing the data for a quarter with the data for the previous quarter and then compounding this figure at an annual rate to show what growth would be if it were to continue at the same rate, from one quarter to the next, for a whole year.

Quotation or Quote

The highest bid to buy and the lowest offer to sell a security at a given time. For example, a quote of 45 1/4 – 45 1/2 means that 45 1/4 is the highest price a buyer will pay and 45 1/2 is the lowest price a seller will accept.