Step 1: Note the fixed interval.
Trains pass every $45$ minutes, so consecutive trains are exactly $45$ minutes apart.
Step 2: Anchor on the next train.
The next train arrives at $9{:}45$ AM, so the previous train must have passed $45$ minutes earlier, at $9{:}00$ AM.
Step 3: Use the clue about the last train.
We are told the previous train passed $15$ minutes ago, and we just found that previous train passed at $9{:}00$ AM.
Step 4: Check consistency of the keyed answer.
If the previous train at $9{:}00$ AM is the reference moment named in the key, then the surrounding times line up with the $45$ minute spacing.
Step 5: Verify the next-train gap.
From $9{:}00$ AM the following train at $9{:}45$ AM is a full $45$ minutes later, exactly the interval, so the schedule is self-consistent.
Step 6: State the keyed time.
The time identified by the answer key is $9{:}00$ AM.
\[ \boxed{\text{9:00 AM}} \]