The Collaborative International Dictionary of English v.0.48:

Qualification \Qual`i*fi*ca"tion\, n. [Cf. F. qualification. See
   Qualify.]
   1. The act of qualifying, or the condition of being
      qualified.
      [1913 Webster]

   2. That which qualifies; any natural endowment, or any
      acquirement, which fits a person for a place, office, or
      employment, or which enables him to sustian any character
      with success; an enabling quality or circumstance;
      requisite capacity or possession.
      [1913 Webster]

            There is no qualification for government but virtue
            and wisdom, actual or presumptive.    --Burke.
      [1913 Webster]

   3. The act of limiting, or the state of being limited; that
      which qualifies by limiting; modification; restriction;
      hence, abatement; diminution; as, to use words without any
      qualification.
      [1913 Webster]

WordNet (r) 3.0 (2006):

qualification
    n 1: an attribute that must be met or complied with and that
         fits a person for something; "her qualifications for the
         job are excellent"; "one of the qualifications for
         admission is an academic degree"; "she has the makings of
         fine musician" [syn: qualification, making]
    2: the act of modifying or changing the strength of some idea;
       "his new position involves a qualification of his party's
       platform"
    3: a statement that limits or restricts some claim; "he
       recommended her without any reservations" [syn:
       reservation, qualification]