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

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