Final answer:
In a lost communication scenario, the pilot should continue on the last assigned route and altitude per the AIM's guidelines for lost communication situations.
Step-by-step explanation:
In the event of a lost communication scenario during a flight from Las Vegas McCarran International Airport (LAS) to Van Nuys Airport (VNY), the pilot should adhere to the FAA's regulations outlined in the Aeronautical Information Manual (AIM). Specifically, the AIM directs pilots to follow the route and altitudes stated in the last clearance received when communication with air traffic control (ATC) is lost. This means that the pilot should continue along the last assigned route and maintain the last assigned altitude.
Option 1, which suggests the pilot continues on the last assigned route and maintains the last assigned altitude, aligns with the AIM's guidance. This approach helps ensure adherence to established procedures, facilitating safe separation from other air traffic and promoting overall flight safety during a lost communication scenario.