It will snow vs. it might snow vs. it migth be snowing

[Student6011]

Look at the sky! It will snow.

Is my answer given below correct?

Look at the sky! It might snow.

what i was asked to do was to 1. correct the verb, 2. name the tense and explain why.

Any help would be appreciated

[Cerberus™]

All of your sentences are correct, though with "will" one might expect a specific time when it will snow, such as "before noon". If you say "it might be snowing", you are not sure whether it is snowing right now; that is odd if you are actually looking at the sky, since you would know if it were snowing. The other sentences are all possible depending on context.