Level 3 Trading problems...

Anyone else not meeting the requirements for level 3 trading?  Were you ever able to get it and how?  

I currently have options level 2 approval and feel as though i have plenty of options and stock trading experience.  I understand the risks associated with trading options.  I mainly want the level 3 approval for credit spreads and the occasional calendar spread.  I don't see how else I can get level 3 approval since I am only a student in college and don't have the necessary liquid assets or high net worth that is most likely needed.  I don't want to fudge those things on the form to request the level 3 trading cause thats not the way to do it.  Also I understand the risks for a credit spread which is the difference in strike prices minus the credit received. Therefore, as long as I have say ~$500 in my account for an apple 545/550 spread for example that would be the most I could lose plus commissions and minus any credit.  I feel like that is similar to a cash backed put in terms of risk for tradeking right?  This way however the bought put (or call) is limiting my downside which means I don't have to have $55000 in my account to sell one cash backed put for apple or 60000 for a put on google or something.

I guess my reason for posting is to ask how people got level 3 approval or did you go to another broker?...

Thanks!

Losing more than 500 is definately posible as clearly explained in what you mentioned.  I don't plan on taking any into expiration unless its trading well above the strikes.  If however before expiration I happened to be assigned early I figured i'd immediately get out of that position meaning it wouldn't be below (with puts) my bought strike and i would therefore not lose more than 500.  If it happened to be below both strikes on expiration (puts) then i could simply exercise my bought put to cancel out the early assignment on the one sold.  No point in carrying the the spread to expiration because of those inherent risks but your point is very valid, thank you! I'll give calling them a try.

One's occupation has nothing to do with it. It has everything to do with the level of risk. A (good) broker will let you put your own money at risk, but not the house's money. Since it is possible to lose more than he has in his account, he will not be allowed to do the trade. Were he to have other assets available, and he had a margin agreement, he would probably be able to do this. However, I am speculating, and that need not be done. Call the broker whenever this type of question arises.