Informed consent is best described as:

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Informed consent is about autonomy and informed decision-making through an ongoing conversation, not a one-time event. It means the researcher and participant engage in a continuous dialogue that provides enough information for the person to decide whether to participate and to stay in the study. This includes clear discussion of the purpose, procedures, potential risks and benefits, alternatives, what will be done with the participant’s data, and the voluntary nature of participation. The participant should have opportunities to ask questions, check their understanding, and reaffirm or withdraw consent as the study evolves or if new information arises. Consent is revocable at any time without penalty.

The other ideas don’t fit because consent is more than a single form; it must be revisited and kept voluntary. It isn’t a rigid contract with no possibility of changing one’s mind, and it isn’t optional for low-risk studies—consent principles apply regardless of risk level.