Step 1: HCl is a strong acid, so it dissociates completely: \( [\text{H}^+] = 0.01 \, \text{M} \).
Step 2: Calculate pH using the formula:
\[
\text{pH} = -\log_{10} [\text{H}^+]
\]
\[
[\text{H}^+] = 0.01 = 10^{-2}
\]
\[
\text{pH} = -\log_{10} (10^{-2}) = 2
\]
Step 3: Verify: For a strong acid, pH depends only on concentration. Matches option (2).