What document must all passengers present when riding on SEPTA buses?

A valid fare or identification is the correct answer because it is the standard requirement for all passengers using SEPTA buses. In public transit systems like SEPTA, a valid fare serves as proof that the passenger has paid for the service they are using. This can be in the form of cash, a token, or a transit pass. Identification can also be necessary in certain situations, such as when a fare discount is applicable based on age, disability, or student status.

By requiring proof of fare payment, SEPTA ensures that the system remains sustainable and that services can continue to operate smoothly. It also helps to enforce policies designed to maintain fair access for all riders. The other options do not accurately reflect SEPTA's policies regarding passenger requirements; for example, an approved ticket from the last month may not universally apply since transit fare policies can change monthly, and a signed waiver or government-issued ID are not standard requirements for riding the bus.