What you learn: how to setup standard raytrace scene.
Making Materials
What you need is three materials, Raytrace, Matte/Shadow and Standard.
15. Creating Raytrace: Press "M" key to access Material Editor. Click on any material and then click on "Standard" button. (We use this material for any object to reflect or refract atmosphere)
16. A window pups up. Click on Raytrace and then Click on "OK" button.
17. Adjust Diffuse color the way you want or if you want your reflective material to have a map click on untitled button on the right of Diffuse color.
18. Go to maps rollout. Reduce Reflect to 60. We don't want to make a mirro material.
19. Now assign that material to your model.
20. Creating Matte/Shadow: Press "M" key to access Material Editor. Click on any material and then click on "Standard" button. (We use this material for dropping shadow on background)
21. A window pops up. Click on Matte/Shadow and then click "OK" button.
22. Uncheck "Opaque Alpha" (this is important). and check "Receive Shadows" because we want to drop shadows.
23. Assign Matte/Shadow material to Box01.
24. Creating Standard: (We use this material for making environment)
25. If you want to have black environment just specify in Diffuse color black or any other color you like. if you want your model to reflect some clouds then click the button on right of diffuse color and specify bitmap and input your image path.
Making Materials