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Research has shown that typically one who wishes to become a personal loan broker should have a BA in economics, finance or other related field. One should also have some work experience in a banking or financial industry also. Requirements vary depending on one's location and it is best to contact the local licensing agency to find the requirements in a specific area.

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Q: What type of schooling is needed to become a personal loan broker?
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There is no formal education needed to be a stockbroker, just a firm knowledge of stocks. Most stockbroker companies will actually hire you without any training at all.


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To become an accountant you must have a degree. To become certified you must take the state test and pass.


What degree to take to become a floor broker?

A college degree is not required to become a broker, all that is needed is a license from the FINRA. In order to obtain a license you must take and pass the Series 7 exam, which requires sponsorship from a member firm of the FINRA. A passing grade of 70 or higher is required for you to get your license. Although most small firms do not require a college degree to obtain sponsorship or to work for them, it is definitely preferred. But as long as you show them that you have experience in sales, excellent people skills, and a desire to succeed they will be willing to invest in you as a broker so that you can obtain your license. The question in specifically applies to the title of floor broker, which is considered an experienced position that in the world of stockbrokers. Floor brokers work on the trading floor of the NYSE, and play an important role in the determination of stock prices. This type of position will most likely require years of experience as a broker and a college degree. I recommend you major in finance and possibly even consider earning an MBA. The floor broker position is most likely in high demand, with lots of applicants who have advanced degrees and tons of experience. The median annual income is around $80K, which pretty much tells you that it is a position that requires some experience at the least. Study hard and do some internships at investment banks and you should have no problem.


Do I need a reason for a personal loan?

Mostly, there is no reason needed for the personal loan while applying. But in some of the banks as well as corporate finance institutes, they needed a reason for the personal loan while applying for a loan.

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