Yes, it is the adjective form of the noun intellect. It can also be used as a noun meaning a person having or presenting intellectual abilities.
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intellectual
more intellectual, most intellectual
Cautious IS an adjective. An adjective is an action!
The word "it" is not an adjective (it is a pronoun). A word is an adjective if it modifies (defines, characterizes) a noun or pronoun. The big tent - big is an adjective He is tall - tall is an adjective This key - this (while arguably called a determiner) is a demonstrative adjective
probable is an adjective