Which of the following terms refers to a time penalty in rodeo events?

The term that refers to a time penalty in rodeo events is "Drop." In the context of rodeo, a drop occurs when a competitor fails to complete an event within the allowed time limit, resulting in a penalty that adds to their overall score or time. This can be particularly relevant in timed events, where even a slight delay can significantly affect the final outcome.

The other terms mentioned, while often used in rodeo, refer to different concepts. A fault usually deals with specific errors made during an event that can impact the scoring but might not directly relate to time penalties. The term "catch" is generally associated with roping events, specifically indicating how a roper secures the animal, and does not imply a penalty. "Turnout" typically describes the appearance and presentation of both the horse and rider, focusing on aesthetics rather than time penalties in competition. Thus, understanding these distinctions highlights why "Drop" is the accurate term for a time penalty in rodeo.