Risk refers to the chance that harm will occur from a hazard, requiring both a hazard and exposure to be present. Hazard refers to the intrinsic ability of a situation or substance to cause harm. For a risk to exist, there must be not only a hazard but also exposure to that hazard. An example is given of a dangerous animal that is a hazard when free but presents no risk when caged, since there is then no exposure. Risk assessment considers both the hazard and likelihood of exposure to determine if and how harm might occur from a given situation.