I have a 2015 Honda CBR500R I am thinking of taking my slip on exhaust off (just for sound,THE LOUDER YOU ARE THE SAFER) and putting on a K&N air filter. Will me doing that burn my exhaust valves?
Taking off the exhaust and using a different filter will not make it any harder on the valves, let alone burn them. What can burn them is the mixture becoming too weak when using a K&N filter. See, those filters make barely any restriction, while the stock filter may do so quite much. The stock filter acts like a choke in that case. Removing or replacing it by K&N will remove the incalculated choke effect from the old filter, making the mixture too weak. A weaker mixture burns slower, hotter, later, and longer. It can be the case that combustion is still taking place when the exhaust valves are opening, and then they'll take damage.
When you have a carbureted engine, you need richer needles when moving to an uprated filter. If it is an injected engine, the ECU may compensate(and may need time to do so in long term), but i'd still check that with the manufacturer.