Your broker requires an initial margin of $2,500 and a maintenance margin of $1,500 on Treasury note futures. Treasury note futures contracts are based on a $100,000 par value and quoted in points and one-half of 1/32 of a point. You own one Treasury futures contract that had a closing settlement quote of 112'165 yesterday. Today, the settlement quote is 111'105. Your margin balance at yesterday's close was $2,100. All margin calls restore margin levels to their initial level. Will you receive a margin call based on today's settlement quote and, if so, for what amount?

		call for $1,587.50
		call for $1,287.50
		no margin call
		call for $1,100.50

You have decided to use futures contracts to invest in silver at a settle price of $15 per ounce. Each futures contract has a standard size of 4,900 troy ounces and an initial margin requirement of $4,400. If you purchase 20 contracts, what is the total margin (in dollars) you will need to provide?

		$4,400
		$88,000
		$73,500
		$16,000