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

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