<u>Answer:</u>
<u>For 1:</u> The balanced chemical equation is written above.
<u>For 2:</u> The most important indicator in the following reaction is a precipitate is formed.
<u>Explanation:</u>
Single displacement reaction is defined as the reaction in which more reactive element displaces a less reactive element from its chemical reaction.

When bromine gas reacts with sodium iodide, it leads to the formation of sodium bromide and iodine gas. The chemical equation for the above reaction follows:

Hence, the balanced chemical equation is written above.
The common indicators of a chemical change has occurred are:
- Release of gas from the reaction.
- Formation of bubbles.
- Color change
- Temperature change
- Formation of a precipitate
- Specific odor
For the given chemical reaction:

As, the precipitate is being formed, so it is the important indicator for a chemical reaction.
Hence, the most important indicator in the following reaction is a precipitate is formed.