**Final Answer:**
The index time configuration, based on the provided information, suggests that data from `/opt/log/www1/` will be indexed with the default host `server1`. Meanwhile, data from `/var/log/` will be indexed with the host `logsvr1` and assigned the `access_combined` sourcetype, and the index `security`.
**Explanation:**
The configurations are spread across different locations in the Splunk deployment. In `etc/system/local/`, the default host is set to `server1`, indicating that data from sources not explicitly configured with a host will be indexed with this default host. Specifically, data from `/opt/log/www1/` is configured to be monitored with the host `websvr1`.
Moving to `etc/apps/unix/local/`, data from `/var/log/` is configured to be monitored with the host `logsvr1`. Additionally, the sourcetype for this data is set to `access_combined`, and the index is specified as `security`.
In summary, the index time configuration indicates that data from `/opt/log/www1/` will be indexed with the default host `server1`. Meanwhile, data from `/var/log/` will have a specified host `logsvr1`, with a sourcetype of `access_combined`, and it will be indexed into the `security` index. This distributed configuration allows for flexibility and customization based on source, host, sourcetype, and index, catering to the diverse needs of Splunk users for effective data indexing and searching.