What should you do?

Your network contains two servers named Server1 and Server2 that run Windows Server 2008 R2.
Server1 and Server2 have the Hyper-V server role and the Failover Clustering feature installed.
You deploy a new virtual machine (VM) named VM1 on Server1.
You need to ensure that VM1 is available if one of the Hyper-V servers fails.
What should you do?

A.
Install the Network Load Balancing (NLB) feature on VM1.

B.
Install the Network Load Balancing (NLB) feature on Server1.

C.
Install the Failover Clustering feature on VM1. From Failover Cluster Manager on VM1, click Configure a Service or Application.

D.
From Failover Cluster Manager on Server1, click Configure a Service or Application.

Explanation:
To configure a virtual machine for high availability
1. Be sure that you have installed the Hyper-V role and have reviewed the steps in Checklist: Create a Clustered Virtual Machine. This procedure is a step in that checklist.
2. In the Failover Cluster Manager snap-in, if the cluster that you want to configure is not displayed, in the console tree, right-click Failover Cluster Manager, click Manage a Cluster, and then select or specify the cluster that you want.
3. If the console tree is collapsed, expand the tree under the cluster that you want to configure.
4. Click Services and Applications.
5. If you have already created the virtual machine, skip to step 6. Otherwise, use the New Virtual Machine Wizard to create a virtual machine and configure it for high availability:
a. In the Action pane, click Virtual machines, point to Virtual machine, and then click a node. The virtual machine will initially be created on that node, and then be clustered so that it can move to another node or nodes as needed.
b. If the Before You Begin page of the New Virtual Machine Wizard appears, click Next.
c. Specify a name for the virtual machine, and then select Store the virtual machine in a different location and specify a disk in shared storage or, if Cluster Shared Volumes is enabled, a Cluster Shared Volume (a volume that appears to be on the system drive of the node, under the ClusterStorage folder).
d. Follow the instructions in the wizard. You can specify details (such as the amount of memory, the network, and the virtual hard disk file) now, and you can also add or change configuration details later.
e. When you click Finish, the wizard creates the virtual machine and also configures it for high availability. Skip the remaining step in this procedure.
6. If you have already created the virtual machine and only want to configure it for high availability, first make sure that the virtual machine is not running. Then, use the High Availability Wizard to configure the virtual machine for high availability:
a. In the Action pane, click Configure a Service or Application.
b. If the Before You Begin page of the High Availability Wizard appears, click Next.
c. On the Select Service or Application page, click Virtual Machine and then click Next.
d. Select the virtual machine that you want to configure for high availability, and complete the wizard.
e. After the High Availability wizard runs and the Summary page appears, if you want to view a report of the tasks that the wizard performed, click View Report.
Source: http://technet.microsoft.com/en-us/library/dd759216.aspx