What does this simple rebus mean?

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?

Analyze and find the missing item in the sequence:
16, 06, 68, 88, __, 98

O_er_t_o_

Complete the missing letters of the given word.

A brand new Mobile Phone was on sale at 20% as a promotional offer. By what per cent must the Mobile price be increased to sell it at the original price again?

Jessica is telling her friends this story and asks them to guess if it’s the truth or a lie: “There was a man sitting in a house at night that had no lights on at all. There was no lamp, no candle, and no other source of light. Yet, he sat in the house and read his book happily.” Her friends say she’s lying, but Jessica corrects them and says she’s telling the truth. Jessica’s story is true—but how?

Can you find a seven digit number which describes itself. The first digit is the number of zeros in the number. The second digit is the number of ones in the number, etc. For example, in the number 21200, there are 2 zeros, 1 one, 2 twos, 0 threes and 0 fours.

Can you count the number of blocks in the picture below?

A small town is visited by an ice-cream truck every day. On the first day of February, the truck visits as usual and 5 children, one from each of the first 5 houses on the street buys an ice cream that is of the different flavor from each other along with a completely different topping.

Go through the details below and find out which child lives in which house and bought which ice-cream flavor with which topping:

1. Jim lives between the child who bought the Raspberry topping and the child who bought mango ice cream.

2. Joyce, whose house has an even number, bought the cherry topping. Nancy does not live next to Joyce.

3. The blackcurrant ice cream had no topping.

4. The child who lives in house number 2 had the butterscotch ice cream. The child in house number 3 did not have chocolate ice cream.

5. Mike had banana ice cream. He hates banana cherry.

6. The child who had the cashew topping lives in house number 5. Dustin does not live in house number 4.

Please note that the odd numbered houses and the even numbered houses are located on the exactly opposite sides of the street.

A bank customer had $100 in his account. He then made 6 withdrawals. He kept a record of these withdrawals, and the balance remaining in the account, as follows:

Withdrawals Balance left
$50 $50
$25 $25
$10 $15
$8 $7
$5 $2
$2 $0
----- -----
$100 $99

Why are the Totals not tallying?