What are you required to do when a traffic light displays a flashing yellow light?

1. Ignore the traffic light and keep driving. Everything is ok.
2. Correct answer: Proceed carefully and drive according to the traffic signs placed at the intersection.
3. Stop inside the intersection and wait for the green light.
4. Stop at the customary stopping place and wait for the green light.

WhyA flashing yellow means the light is not regulating traffic: proceed carefully by the signs at the intersection. No need to wait for green.