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

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