is it possible to create a 3 tier term?

[reynalj]

Our school classes are created to run for a full school year, 2 semesters (Semester 1 and Semester 2), 4 quarters (RQ1, RQ2, RQ3, RQ4), plus a mid term (S1), and final (S2).

I've seen that others have a similar issue in that classes (terms) are per year, yet grades are tracked by semester, and entered quarterly with semester test (quarters and test are weighted 33% each for the semester grade).  At the end of year, both semesters get averaged for the overall grade.

Is anyone else dealing with a 3 tier system of grading (quarterly/test, semester, and full year)?  If so, how do you create the terms and grading?