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Underwriting terminology

Author: demarco mel
Description: Match the common underwriting terminology to its meaning. You have 5 minutes to complete this activity.
Keywords: , , , , , , online teaching

Content:
Definitions:
0. API
1. Cancelled status
2. Approved status
3. NDI
4. In_Progress status
5. 10%25 loader
6. 15%25 loader
7. 5%25 loader
8. Servicability
9. Variation
10. In_force status
11. LVR
12. Premium
13. 3%25 loader
14. 6%25 loader
15. 20%25 discount

Answers:
0. A policy that has been cancelled
1. Loan to Value Ratio
2. Loan term between 30-35 years
3. Investment loan purpose
4. A change made to an existing policy
5. Loan term between 35-40 years
6. Australian Property Institute
7. An approved policy awaiting premium payment
8. Self employed loader
9. External refinance
10. A policy that has not been finalised
11. The capacity to service the loan
12. Net Disposible Income
13. The payment allocated for mortgage insurance
14. Premium has been paid on the policy
15. Staff loans
.