Which of the following indicates the health and readiness of a fire protection system?

The correct indication of the health and readiness of a fire protection system relates to color coding on tags. Color coding on tags is a widely accepted practice in the field of fire protection that provides a visual representation of the inspection status and maintenance of fire safety equipment. Typically, different colors signify whether equipment is compliant, overdue for inspection, or has deficiencies that need to be addressed. This system allows for quick identification of issues that may put the fire protection system's effectiveness at risk, thus ensuring ongoing reliability and safety in emergency situations.

Other factors, such as alarm response times, the condition of fire drills, and the positioning of exits, are also important elements in fire safety but do not directly reflect the status or readiness of a specific fire protection system. Alarm response times measure the efficiency of alarm systems but do not indicate maintenance status. The condition of fire drills focuses on preparedness and employee training rather than the condition of the protection systems themselves. The positioning of exits is vital for egress and safety, but again, it does not directly assess the operational status of fire protection equipment. Hence, the color coding on tags is the most definitive measure of the health and readiness of the fire protection system.