What type of light may a yellow buoy exhibit?

A yellow buoy may exhibit a flashing light, which serves a specific purpose in navigation. The use of a flashing light helps to signal to boat operators, particularly in areas where caution is advised, such as near shoals or channels. This type of light is typically used to alert mariners of certain conditions or routes to take, thus enhancing navigational safety.

In contrast, fixed red lights and white lights are typically associated with different types of markers or warnings. Occulting lights are characterized by a cycle of light and darkness and are mostly used for specific navigational aids rather than for yellow buoys. The flashing light characteristic of yellow buoys makes them distinctive and effective for mariners, indicating important navigational information.