Correct Answer: (B)

1. Total Triangles without Constraints: The total number of ways to select 3 points from 12 points is given by $\binom{12}{3}$.

2. Calculation of Total Selection: $\binom{12}{3} = \frac{12 \times 11 \times 10}{3 \times 2 \times 1} = 2 \times 11 \times 10 = 220$.

3. Subtracting Invalid Combinations: Triangles cannot be formed if the 3 selected points are collinear. There are 5 points that are collinear, so we must subtract the number of ways to pick 3 points from those 5.

4. Calculation of Collinear Selection: $\binom{5}{3} = \frac{5 \times 4}{2 \times 1} = 10$.

5. Final Count: Total valid triangles = $220 - 10 = 210$.

Test Prep Tip: In geometry-based combinatorics, always use the subtraction method: Total possible combinations minus the cases that violate the geometric property (in this case, collinearity). This is generally faster and less error-prone than summing up the individual valid cases.