What is the word or phrase below?
R | E | A | D

There was once a college that offered a class on probability applied to the real world. The class was relatively easy, but there was a catch. There were no homework assignments or tests, but there was a final exam that would have only one question on it. When everyone received the test paper it was a blank sheet of paper with a solitary question on it: 'What is the risk?'.Most students were able to pass, but only one student received 100% for the class! Even stranger was that he only wrote down one word!
What did he write?

What you cannot hold but it is yours?

I welcome the day with a show of light, I stealthily came here in the night. I bathe the earthy stuff at dawn, But by noon, alas! I'm gone.

Can you figure out the logic I used to decide the order of the following words:
gun, shoe, spree, door, hive, kicks, heaven, gate, line, den

By using all numbers, i.e. 123456789 and subtraction/addition, operators number 100 can be formed in many ways.
Example: 98 + 7 + 6 - 5 - 4 - 3 + 2 - 1 = 100

But if we add a condition use of the number 32 is a must. Then there are limited solutions.
One of such solution is: 9 - 8 + 76 + 54 - 32 + 1 = 100

Can you tell me any other solution?

There are nine letters in the below-given diagram. You have to form a nine-letter word using these letters.

It is a 5 letter word if you take away first letter it is something you get from sun, if you remove second letter you will get something to eat, if you remove third letter you get a word you use in pointing at and if you remove the fourth letter you get something to drink. What is it?

You are on a Boat in the mid of a river. You have two cigarettes with you. One of these two you have to light, how will you light the cigarette?

Two batsman each on 94 runs. Seven runs needed to win in last 3 balls. Both make 100*. How?