80) What does cumulative default probability refer to? A) Theprobabilitythataborrowerwilldefaultoveraspecifiedmultiyearperiod. B) Expectedmaximumchangeintheloanrateduetoachangeintheriskfactorontheloan. C) Thehistoricdefaultrateexperienceofabondorloan. D) Expectedmaximumchangeintheloanrateduetoachangeinthecreditpremium. E) Theprobabilitythataborrowerwilldefaultinanygivenyear.