What is the recommended action if an engine failure occurs during takeoff?

When an engine failure occurs during takeoff, if the aircraft has reached a sufficient speed (commonly known as V1), the recommended action is to continue the takeoff. At this point, the aircraft is typically committed to flight, and the pilot should maintain control and ensure that it climbs away from the runway, following the appropriate emergency procedures.

Continuing the takeoff unless it's below the critical speed allows the aircraft to gain altitude and provides more options for managing the situation. This may include flying to an appropriate location for an emergency landing that ensures the safety of the aircraft, passengers, and crew. Therefore, recognizing the threshold of V1 is essential for determining the best course of action during an engine failure at that critical phase of flight.

The other options suggest actions that may not be advisable once the aircraft is at or above that critical speed. Immediate landing or turning back may not be possible without compromising safety, and waiting for a tower signal could lead to delayed decision-making during a high-stress situation.