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Futures use marking to market with a two-tier margin system: initial and maintenance. After a $900 loss, the account equity falls from $6,600 to $5,700, which is below maintenance ($6,000). When equity dips below maintenance at settlement, the clearing member issues a variation margin call to bring equity back up to initial, not merely to maintenance. Thus the required payment is $900 to restore the account to $6,600. Choice B is a common distractor; while some firms permit “top up to maintenance” intraday, the standard Series 3 treatment is restoration to initial margin after settlement. Automatic liquidation (D) typically occurs only if the call is not met within the firm’s deadline or if losses exceed available equity and credit limits intraday. Understanding the daily settlement cycle, the role of performance bond (margin), and how price limits or expanded limits can affect end-of-day margining is core to Series 3 objectives, as is distinguishing futures margin (performance bond) from securities margin under Reg T principles.