AQ stands for Armor Quest. Or more accurately, Armor Quest(s) since you can end up with six different pieces of armor, one for each of six different stages in the quest.
Since Tutan already covered the FP side of things...
If you were a Qeynos scout, you would want a series of quests called "Ian's Forgetful Family". Ian will send you out to kill a variety of different mobs and at the completeion of each stage, he will reward you with a different piece of armor that should last you till you leave tier 3 at level 30.
You can read up on filling all of Ian's needs
HERE -or- you could look on the left hand side of this page and search quests --> list by zone.
Ian can be found in Qeynos Harbor.
edit: Dang, Tutan beat me to the punch!
Edited, Tue Jan 17 23:40:32 2006 by OldBlueDragon