Please give me an answer for these 4 essay questions.

(TCO 5) Define and explain the term default risk premium. Determine why the "premium" represents the "expected default loss rate". Evaluate why default risk premiums vary over the business cycle. (TCO 6) Identify the fundamental characteristics of money market debt instruments. Evaluate why these characteristics are important to money market participants who are investing in financing. (TCO 7) Determine what has contributed to the increased globalization of bond markets. (TCO 8) Classify and list several factors responsible for commercial banks and mortgage pools recently overtaking thrift institutions as major investors in mortgages