Q

Fifth letter of a Nasdaq stock symbol specifying that it is in bankruptcy

proceedings.
QA
The two-character ISO 3166 country code for QATAR.
QAR
The ISO 4217 currency code for the Qatar Rial.
QQQQ
The ticker for the PowerShares QQQ Trust, Series 1, an ETF traded on
the Nasdaq Index. Formerly the Nasdaq-100 Trust, Series 1, this trust
holds all the component securities that make up the Nasdaq and issues
securities called QQQ Index Tracking Stock that are designed to track
the approximate performance of the Nasdaq Index.
Q ratio or Tobin's Q ratio
Market value of a firm's assets divided by replacement value of the
firm's assets. Named after James Tobin of Yale University.
Quadratic programming
Variant of linear programming in which the objective function is
quadratic rather than linear. In portfolio selection, we often minimize
the variance of the portfolio (which is a quadratic function) subject to
constraints on the mean return of the portfolio.
Qualification period
A period of time during the first few months or weeks of a new policy
when an insurance company will not reimburse a policyholder for a
claim in order to allow the insurance company time to find any
fraudulent information in the application.
Qualified Domestic Relations Order (QDRO)
A judgment, decree, or order that gives a pension plan participant
access to retirement assets that must be used to pay an ex-spouse or
dependent children.
Qualified endorsement
A signature on the back of a negotiable instrument transferring the
amount to some other party but that includes wording that limits the
endorser's liability.
Qualified opinion
An auditor's opinion expressing certain limitations of an audit.
Qualified plan or trust
A tax-deferred plan allowing employer and employee contributions that
build up savings, which are paid out at retirement or on termination of
employment. Tax is paid only when amounts are drawn from the trust.
Qualified retirement plan
A retirement plan established by employers for their employees that
meets the requirements of Internal Revenue Code Section 401(a) or
403(a) and is eligible for special tax considerations. The plan may
provide for employer contributions, as in a pension or profit-sharing
plan, as well as employee contributions. Employers can deduct plan
 contributions made on behalf of eligible employees on the business's
tax return as business expenses. Plan earnings are not taxed to the
employee until withdrawn.
Qualified Terminable Interest Property Trust (Q-TIP)
A trust that allows a surviving spouse to receive income generated
from the trust, while the actual distribution of the trust's assets is
made to other beneficiaries such as the grantor's children.
Qualified total distribution
A payment representing an employee's interest in a qualified
retirement plan. The payment must be prompted by retirement (or
other separation from service), death, disability, or attainment of age
59-1/2. Payment can be in installments as long as the complete
distribution is made within a single tax year.
Qualifying annuity
An annuity allowable as investment for a qualified plan or trust.
Qualifying share
Shares of common stock that a person must hold in order to qualify as
a director of the issuing corporation.
Qualifying stock option
A benefit granted by a corporation that allows employees to purchase
shares at a discount price.
Qualitative analysis
An analysis of the qualities of a company that cannot be measured
concretely, such as management quality or employee morale.
Qualitative research
Traditional analysis of firm-specific prospects for future earnings. It
may be based on data collected by the analysts, there is no formal
quantitative framework used to generate projections.
Quality of earnings
Increased earnings due to increased sales and cost controls, as
compared to artificial profits created by inflation of inventory or other
asset prices.
Quality option
Gives the seller choice of deliverables in Treasury bond and Treasury
note futures contracts. Also called the swap option. Related: Cheapest
to deliver issue.
Quant fund
A fund that uses quantitative approaches and computer models to
make investment decisions as opposed to qualitative approaches like
opinion of fund managers.
Quantitative analysis
A mathematical analysis of the measurable figures of a company, such
as the value of assets or projected sales. This type of analysis does not
include a subjective assessment of the quality of management.
Quantitative easing
 A monetary policy in which the central bank engages in open market
transactions aimed at increasing money supply in the economy. Easing
could also involve direct money creation (printing).
Quantity risk
Occurs when the quantity of an asset to be hedged is uncertain.
Quality spread
Difference between Treasury securities and non-Treasury securities
that are identical in all respects except for quality rating. For instance,
the difference between yields on Treasuries and those on single A-
rated industrial bonds. Also called credit spread.
Quant
A person with numerical and computer skills who carries out
quantitative analyses of companies.
Quantize
To convert an asset or liability into a currency other than the regular
trading currency.
Quantitative research
Use of advanced econometric and mathematical valuation models to
identify the firms with the best possible prospectives. Antithesis of
qualitative research.
Quanto swap
See: Differential swap
Quantos
Currency options with a guaranteed exchange rate that enable buyers
who like an asset, German bonds for example, but not the asset's
pricing currency, to arrange payment in a different currency for a fee.
Quarter stock
Stock with a par value of $25 per share.
Quarterly
Occurring every three months.
Quarterly financing
February 15, May 15, August 15 and November 15, or next working
day offerings of several "coupon" security issues. Quarterly issues
currently consist of a 3-year note, a 10-year note, and a 30-year bond.
The Treasury sometimes offers additional amounts of outstanding long-
term notes or bonds, rather than selling new security issues. See:
Reopening.
Quasi-public corporation
A corporation that is operated privately, but is supported by the
government in its operations and that often traded publicly.
Quay
A landing place or pier, usually of solid construction, where vessels
berth to load or unload cargo.
Quick assets
Current assets minus inventories.
Quick ratio
 Indicator of a company's financial strength (or weakness). Calculated
by taking current assets less inventories, divided by current liabilities.
This ratio provides information regarding the firm's liquidity and ability
to meet its obligations. Also called the Acid test ratio.
Quid pro quo
An arrangement allowing a firm to use research from another firm at
no cost in exchange for executing all of its trades with the firm that
provides the research.
Quiet period
Time period an issuer is "in registration" with the SEC and may not
promote its forthcoming issue.
Quorum
The minimum number of people who must be present or must provide
a proxy to vote at a meeting in order to make a valid decision.
Quota
See Import Quota
Quotation
Highest bid and lowest offer (asked) price currently available on a
security or a commodity.
Quotation board
The electronic board at a brokerage firm displaying prices other
financial data.
Quote rule
Rule requiring market makers to publish quotations for any listed
security when a quotation represents more than 1% of the aggregate
trading volume for that security.
Quoted price
The price at which the last trade of a particular security or commodity
took place.