> ## Documentation Index > Fetch the complete documentation index at: https://docs.fundingperpetuals.com/llms.txt > Use this file to discover all available pages before exploring further. # Challenges and Rules > Understand evaluation stages, profit targets, loss and drawdown rules, account states, funded progression, and payout-specific requirements. Every challenge account is governed by the plan selected when it was purchased or granted. Plans can differ in step count, targets, loss limits, drawdown type, consistency rules, qualifying days, and payout policy. Use the rule card inside your account and the terms shown during purchase for the exact values attached to that account. Do not assume another account or an older example has the same terms. ## Evaluation rules | Rule | What to watch | | ------------------ | ----------------------------------------------------------------------------------------------------------------- | | Profit target | The required gain for the current evaluation step. A multi-step plan can use a different target in each step. | | Maximum daily loss | A floor based on the plan's daily-loss policy and the current UTC trading day. | | Maximum drawdown | The account's allowed decline under its configured static or trailing end-of-day policy. | | Consistency | A plan-specific limit on how concentrated qualifying profit can be. A value of zero means the rule is not active. | Rule evaluation uses the account state maintained by the platform, not a browser-only calculation. Open positions can affect marked equity and therefore rule headroom before they are closed. ## Static and trailing end-of-day drawdown * **Static drawdown** keeps its reference tied to the plan's configured account baseline. * **Trailing end-of-day drawdown** can ratchet upward after a higher end-of-day equity mark. Once raised, its floor does not move back down. The account's rule card shows the effective floor and remaining headroom. ## Account states * **Active:** the account can trade, subject to its rules and any temporary locks. * **Passed:** the evaluation step or evaluation account reached its passing conditions. Trading on that completed evaluation stops while the next stage is prepared. * **Failed:** a rule breach or authorized account decision ended the account. * **Funded:** a funded-stage account was issued after the required review, identity, and agreement flow. * **Closed or archived:** the account is retained for history but is no longer an active trading account. ## After an evaluation passes Follow the action shown on the dashboard. Depending on the account and current workflow, you may need to complete identity verification, review and sign the customer agreement, or wait for a funding review before the funded account is available in the account switcher. ## Funded accounts and payouts Funded accounts have their own active risk and payout rules. Payout eligibility can depend on plan-specific profit, consistency, qualifying-day, minimum amount, cooldown, and cycle-cap terms. A pending payout can temporarily lock trading so the balance supporting the request cannot change during review. Review the current payout panel before submitting a request. Evaluation profit targets and funded payout requirements are separate concepts even when both are expressed as percentages. Continue with the [Challenge Lifecycle](/guides/challenge-lifecycle) for the complete path from purchase through evaluation, funding, and payouts.