Finance & Accounts Officer
Finance & Accounts Officer Interview Questions and Answers for Freshers
Q1. Define LMI and LVR
LMI stands for Lenders Mortgage Insurance, which protects the lender in case the borrower defaults on the loan. LVR stands for Loan to Value Ratio, which is the ratio of the loan amount to the value of the property.
LMI is an insurance policy that protects the lender in case the borrower defaults on the loan.
LMI is usually required when the borrower has a deposit of less than 20% of the property value.
LVR is the ratio of the loan amount to the value of the property, expressed ...read more
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