In the public schools here in BC (not sure if this applies in the rest of Canada, as education is entirely a provincial matter), the grading scheme is a follows:
86-100 A
73-85 B
67-72 C+
60-66 C
55-59 C-
50-54 P (this is a pass, meaning you get credit for the course, but can't use it as a prerequesite for the next level, summer school is required to advance to the next grade in the subject.)
40-49 D (If a course does not have a final exam that everyone takes, students with this grade can still take a final that, if passed, allows them to get 50% and a P in the course.)
0-40 F (course has been failed, no credit granted. Only given on final report card. During other periods, a grade of I, which stands for incomplete, is given instead).
College and University grades differ by institution, though I've not heard of anything as stringent as what you described. here's an example from UBC:
90-100 A+
85-89 A
80-84 A-
76-79 B+
72-75 B
68-71 B-
64-67 C+
60-63 C
55-59 C-
50-54 D (credit is granted, but course does not satisfy any prerequesites for which it otherwise would)
0-49 F (fail, no credit granted)
