There are two types of hypervisors: type 1 and type 2 hypervisor.
In type 1 hypervisor (or native hypervisor), the hypervisor is installed directly on the physical
server. Then instances of an operating system (OS) are installed on the hypervisor. Type 1
hypervisor has direct access to the hardware resources. Therefore they are more efficient than
hosted architectures. Some examples of type 1 hypervisor are VMware vSphere/ESXi, Oracle VM
Server, KVM and Microsoft Hyper-V.
In contrast to type 1 hypervisor, a type 2 hypervisor (or hosted hypervisor) runs on top of an
operating system and not the physical hardware directly. answer 'Type 1 hypervisor runs directly
on the physical hardware of the host machine without relying on the underlying OS' big advantage
of Type 2 hypervisors is that management console software is not required. Examples of type 2
hypervisor are VMware Workstation (which can run on Windows, Mac and Linux) or Microsoft
Virtual PC (only runs on Windows).

Explanation
EEM offers the ability to monitor events and take informational or corrective action when the monitored events occur or reach a threshold. An EEM policy is an entity that defines an event and the actions to be taken when that event occurs. There are two types of EEM policies: an applet or a script. An applet is a simple form of policy that is defined within the CLI configuration.
To specify the event criteria for an Embedded Event Manager (EEM) applet that is run by sampling Simple Network Management Protocol (SNMP) object identifier values, use the event snmp command in applet configuration mode.
event snmp oid oid-value get-type {exact | next} entry-op operator entry-val entryvalue
[exit-comb {or | and}] [exit-op operator] [exit-val exit-value] [exit-time exit-timevalue] poll-interval poll-int-value
+ oid: Specifies the SNMP object identifier (object ID)
+ get-type: Specifies the type of SNMP get operation to be applied to the object ID specified by the oid-value argument.
- next - Retrieves the object ID that is the alphanumeric successor to the object ID specified by the oid-value argument.
+ entry-op: Compares the contents of the current object ID with the entry value using the specified operator. If there is a match, an event is triggered and event monitoring is disabled until the exit criteria are met.
+ entry-val: Specifies the value with which the contents of the current object ID are compared to decide if an SNMP event should be raised.
+ exit-op: Compares the contents of the current object ID with the exit value using the specified operator. If there is a match, an event is triggered and event monitoring is reenabled.
+ poll-interval: Specifies the time interval between consecutive polls (in seconds) Reference: https://www.cisco.com/en/US/docs/ios/12_3t/12_3t4/feature/guide/gtioseem.html