The chemical hazard label indicates the class of hazard. it uses three major color-coded categories: health (yellow), flammability (red), and instability (blue).
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Explanation: The chemical hazard label indicates the class of harzard of chemical products. It appears on their Safety Data Sheet (SDS), which contains a lot of informations about these substances.

The chemical hazard label is divided into four colors and which one has a meaning (categorie) connected with a number, like:

Blue: Health hazard - If the chemical is deadly (4), extreme danger (3), hazardous (2), slightly hazardous (1) or a normal material (0).

Red: Fire hazard (flammability) - If the chemical has flash point bellow 73ºF (4), bellow 100ºF (3), above 100ºF not exceeding 200ºF (2), above 200ºF (1) or will not burn (0).

Yellow: Reactivity (it can be related to instability) - If the chemical may detonate (4), shock and heat may detonete it (3), if it can suffer a violent chemical change (2) or unstable if heated (1) or if it is stable (0).

White: Specific hazard - If the chemical is acid (ACID) or alkali (ALK), for example.

"record the time to complete a chemical reaction" would most likely be part of a lab procedure.