What does this Rebus Picture mean?

What does below Rebus say?

XLR8

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?

Can you solve the tricky chess rebus puzzle below by ciphering the hidden meaning?

If Japan and Panama decided to merge into a single country, probably people will name it Japanama.

Can you think of two more such country's unions that could produce similar names like Japanama by overlapping their three letters?

If,

A = 1

B = 2

C = 3

...

...

Z = 26.

Based on above rule, you need to find an eleven letter word whose letter sum is equal to 52.

A man wants to cross the pit of fire which is 25 feet in length and he has 2 planks(fire resistant) 19 feet in length. How can he cross the pit of fire alive?

What do you see in the image below

Three people check into a hotel. They pay $60 for the rent of the room. After they check-in, the manager realize that the rent for the room is $55. So, he gives $5 to the bellboy and asks him to give it to them. The bellboy thinks that it will be difficult for the three people to share $5 among them and seeking the personal benefit, he pockets $2 and gives the remaining $3 to them.

Now, each person paid $20 and got back $1. In this manner, each of them paid just $19 which totals to the amount of $57. The bellboy has $2 with him and adding them, we get $59. So where is the remaining $1?

The captain of a ship is telling you an interesting story and then poses a question. He says, “I have travelled the oceans far and wide. One time, two of my sailors were standing on opposite sides of the ship. One was looking west and the other one east. And at the same time, they could see each other clearly. Can you tell me how that was possible?”