The correct answer is A. behaves in an unreliable and insincere way.
To play fast and loose means to behave in an unreliable and insincere way. It can also mean to take risks or to act carelessly.
Option B, has a loose tongue, means to talk too much or to say things that are not true.
Option C, lives a life of ease and luxury, means to live a life of comfort and wealth.
Option D, does not know how to behave himself, means to behave in a way that is not appropriate or acceptable.