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

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