<u>Answer:</u> The correct answer is Option 1.
<u>Explanation:</u>
The chemical equation for the formation of rust follows:
For the given options:
Equilibrium is defined as the phase in a reaction where the rate of forward reaction is equal to the rate of backward reaction.
For the given reaction to reach equilibrium, the rate of oxidation of iron must be equal to the rate of reduction of iron (III) oxide. Thus, the statement is correct.
When a forward reaction is spontaneous, the reverse of the same reaction will be non-spontaneous. Thus, the statement is not correct.
During the formation of rust, some energy is given is released. So, the energy of universe is increasing and not decreasing. Thus, the statement is not correct.
When a reaction is spontaneous, the rate may be fast or slow. The rate of the reaction does not depend on the spontaneity of the reaction. Thus, the statement is not correct.
As, in the above reaction, some amount of energy is released. So, the reaction is an exothermic reaction. Thus, the statement is not correct.
Hence, the correct answer is Option 1.