IPA: //priˈkwɒlɪfaɪ//
KK: /priˈkwɑːlɪfaɪ/
To meet the necessary requirements or standards before a certain process or event.
You need to prequalify for the loan before applying.
Prequalify → It is formed from "pre-" (meaning before) and "qualify" (from Latin "qualificare", meaning to make of a certain quality). The word "prequalify" means to determine someone's qualifications or eligibility before a certain point or event.
Think of determining someone's 'quality' ('qualify') 'before' ('pre-') they apply or participate — that's what prequalify means.