Concept:
A correct solution to the Critical Section Problem must satisfy three classical conditions.
Step 1: Mutual Exclusion.
Only one process may execute in the critical section at a time.
Step 2: Progress.
If no process is executing inside the critical section, the decision regarding who enters next cannot be postponed indefinitely.
Step 3: Bounded Waiting.
There must exist a limit on the number of times other processes may enter before a waiting process gets its turn.
Step 4: Identify incorrect conditions.
Hold and Wait and Circular Wait are conditions related to deadlocks, not critical-section requirements.
Step 5: Select the answer.
\[
\boxed{\text{Mutual Exclusion, Progress, Bounded Waiting}}
\]
Hence option (C) is correct.