The term 'INKED INDICATION OF APPROVAL' can be summarized as a 'STAMP', which is a five-letter word. A STAMP is an ink-based impression or design that is used to indicate approval, acceptance, or authorization of a document or item. Stamps are often used in official documents and transactions, such as passports, contracts, and other legal documents. They are also used in everyday life, such as for postage stamps and banknotes.