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

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