water hazard vs hazard

water hazard and hazard both are nouns.

Word	Noun	Adjective	Verb	Adverb
water hazard	Yes	No	No	No
hazard	Yes	No	Yes	No

As nouns, hazard is a hypernym of water hazard; that is, hazard is a word with a broader meaning than water hazard:

water hazard (noun)	hazard (noun)
hazard provided by ponds of water that the golfer must avoid	an obstacle on a golf course
	an unknown and unpredictable phenomenon that causes an event to result one way rather than another
	a source of danger; a possibility of incurring loss or misfortune

water hazard (verb)	hazard (verb)
	put forward, of a guess, in spite of possible refutation
	take a risk in the hope of a favorable outcome
	put at risk