What is required for a Jedi Knight to become a master? Is it to simply train another padawan learner? Or Killing a sith lord? Or another action. For example -apparently Master Sifo-Dyas was made a master after constructing his lightsaber. Discuss
Generally, a Jedi would obtain the rank of Master once they trained a Padawan to Knighthood. Some Masters, like Saesee Tiin, never took a Padawan but we haven't been told how he achieved the rank of Master. If that were the case the only Jedi Master in the Order by the time of ROTS would be Obi-Wan Kenobi (and if you follow TCW, then there would be no Jedi Masters by the time of ROTS)
Obi Wan was made a Knight by taking down a Sith. A Knight can be become a master by either taking a master's trial, or by showing that he/she is skilled and mature enough to be one.
Yup - 1. Train a padawan to knighthood 2. Show oneself worthy by advancing in Force knowledge to be anointed a "master."