How is one to safely deal with the "Update Adobe Flash Player" Pop-Up?

Question

Good computer security practice would be to *not* click on anything in the unexpected pop-up, but instead close that window and then either:
Go to the Adobe site and download the "Update" from there -- but the site never offers "updates", it just offers downloads of the product. 
Open the cited application on one's computer and use its "update" process -- but I can never find the most recent Adobe Flash Player application on my Mac.  I've used Adobe's Update process multiple times in the past and the result is multiple old versions of Adobe Flash Player scattered around, but the latest version which the Adobe Flash Player test site at URL:  http://www.adobe.com/software/flash/about/   says that I have is nowhere to be found.  Right now, running that test on my Mac results in the feedback:  "You have version 11,0,1,152 installed"
If one does click on the "INSTALL" button in the pop-up, is the Adobe "update" process which is to run supposed to just add another "new" version of Adobe Flash Player (in some non-intuitive place), or is it also to remove the older versions, or at least the most recent older version, of Adobe Flash Player?
Is there some predictable default location where Adobe Flash Player should be installed on Mac OS X?

Answer 1

Tom Panfil wrote:
Good computer security practice would be to *not* click on anything in the unexpected pop-up, but instead close that window and then either:
Go to the Adobe site and download the "Update" from there -- but the site never offers "updates", it just offers downloads of the product. 
Open the cited application on one's computer and use its "update" process -- but I can never find the most recent Adobe Flash Player application on my Mac.  I've used Adobe's Update process multiple times in the past and the result is multiple old versions of Adobe Flash Player scattered around, but the latest version which the Adobe Flash Player test site at URL:  http://www.adobe.com/software/flash/about/   says that I have is nowhere to be found.  Right now, running that test on my Mac results in the feedback:  "You have version 11,0,1,152 installed"
If one does click on the "INSTALL" button in the pop-up, is the Adobe "update" process which is to run supposed to just add another "new" version of Adobe Flash Player (in some non-intuitive place), or is it also to remove the older versions, or at least the most recent older version, of Adobe Flash Player?
Is there some predictable default location where Adobe Flash Player should be installed on Mac OS X?
The download does EXACTLY what the "update" does... it downloads the full new version (about 3.6mb) and OVERWRITES the older version.
In your Library/Application Support/Adobe folder (I forget just exactly where) the plug-in installs for your installed browsers.  The updater overwrites the files there.