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The term that encompasses a bitting list of keys, including both master and change keys, is known as a Key Progression List. This list is essential in locksmithing as it outlines the various key combinations within a master keying system. It serves several important functions, such as helping locksmiths understand how different keys interact within the system, which keys override others, and how the master key can open multiple locks while individual change keys are restricted to specific locks.

In the context of locksmithing, understanding the Key Progression List is crucial, as it plays a pivotal role in security and access control. Master key systems utilize a hierarchical access structure where the master key provides access to all locks, while change keys are tailored for specific locks. This means that when a locksmith is creating or maintaining such systems, the Key Progression List is the reference point they rely on to ensure correct functions and optimal security.