The correct answer is B. make haste.
To “make haste” means to hurry or to act quickly. In the context of the question, “The time is running out, you must look sharp,” the speaker is telling the listener that they need to hurry up and get ready.
The other options are not as relevant to the context of the question. Option A, “be careful,” does not necessarily mean to hurry up. It could mean to be cautious or to take your time. Option C, “be punctual,” means to be on time. This is not necessarily the same as hurrying up. Option D, “be sensible,” means to be reasonable or to use common sense. This is also not necessarily the same as hurrying up.
In conclusion, the correct answer to the question “The time is running out, you must look sharp” is B. make haste.