Are you allowed to overtake the vehicle in front of you at the nearest intersection, while exercising utmost caution?

Explanation
Correct answer: No
No, you must not overtake the vehicle ahead at this junction. The photo shows an approach to a junction of roads of equal importance (sign A-5). Under art. 24 para. 7 pt. 1 of the Road Traffic Act, overtaking a motor vehicle at a junction is prohibited unless traffic is directed (by light signals or by an authorised person). At a junction of roads of equal importance traffic is not directed, so the ban applies without exception, whatever extra care you take.