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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. At the end of this learning activity, the learner will be able to identify common underwriting terminology.
Keywords: , , , , , , online teaching

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

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