What are you required to do according to the following traffic sign?

- Honk and signal drivers coming from the opposite direction that you intend to yield.
- Stop and allow vehicles coming from the opposite direction to continue driving.
- Correct answer: Reduce speed and check if the vehicle coming from the opposite direction yields as required.
- Continue driving, take right of way, and you are not obliged to slow down.
Why this is the answer
The correct answer in the official bank: Reduce speed and check if the vehicle coming from the opposite direction yields as required.
This sign gives you right of way over oncoming vehicles on a narrow road. Having priority does not remove the duty of care, so you should slow down and make sure the oncoming driver actually yields. Driving on without slowing is risky if the other driver fails to give way, and stopping completely is unnecessary because the priority is yours.