Canadian Financial, Real Estate and Mortgage Glossary

qualified high deductible health plan (QHDHP) — Acronym

qualified joint and survivor annuity (QJSA) — Acronym

qualified small business corporation (QSBC) — Acronym

qualifying event — Definition

An event that qualifies for insurance coverage.

qualifying life event (QLE) — Acronym, Very Important

  ➥  An event where you apply or change an insurance policy due to marriage, new dependants or employment status.

qualifying rate — Definition

The mortgage rate that one must qualify for when applying for a variable rate or a term less than 5 years, so that if rates increase, the borrower can continue to make payments.

qualifying ratios — Definition

As calculated by lenders, the percentage of income that is spent on housing debt and combined household debt. The first qualifying ratio, called the gross debt service or GDS is up to and including a maximum of 32% of the combined gross family income. The second qualifying ratio is the Total debt service or TDS is up to and including 40% of gross income.

quality service certified (QSC) — Acronym

quality-adjusted life year (QUALY) — Acronym

quantum meruit — Definition

Used in contract law it means "reasonable value of services."

Quebec Federation of Real Estate Boards (QFREB) — Company Est.1994, Quebec, Canada

quick assets (QA) — Definition

Assets that can be liquefied quickly without a loss.

quick closing (QC) — Acronym

quick liquidity ratio — Definition

A metric used to find if a company has enough liquidity to make it's short term financial obligations.