How does one become securities licensed and what kind of testing and proses is involved in obtaining one ?

Answer 1

You have to take several tests through the NASD. Which tests depends on what you want to do. The most basic and almost universally required are the Series 7 and the Series 63.

Check out a company like Prometric. They offer classes and exam study materials. The classes aren't 100% necessary but they help.

The Series 7 is difficult (a lot to memorize), the 63 is easy.

Answer 2

You need to get a member firm to 'sponsor' (hire) you before you will be elligible to take the test. This should be your first priority. There is no need to have license if you're not working in the biz. in the first place.