diff --git a/crates/hotfix/src/initiator.rs b/crates/hotfix/src/initiator.rs
index 7e64adf3..b86bdca0 100644
--- a/crates/hotfix/src/initiator.rs
+++ b/crates/hotfix/src/initiator.rs
@@ -15,6 +15,7 @@ use crate::application::Application;
 use crate::config::SessionConfig;
 use crate::message::OutboundMessage;
 use crate::session::error::{SendError, SendOutcome, SessionCreationError};
+use crate::session::event::ScheduleResponse;
 use crate::session::{InternalSessionRef, SessionHandle};
 use crate::store::MessageStore;
 use crate::transport::connect;
@@ -107,9 +108,18 @@ async fn establish_connection<Outbound: OutboundMessage>(
     completion_tx: watch::Sender<bool>,
 ) {
     loop {
-        if session_ref.await_in_schedule().await.is_err() {
-            warn!("session task terminated when checking schedule");
-            break;
+        match session_ref.await_in_schedule().await {
+            Ok(ScheduleResponse::InSchedule) => {
+                debug!("resuming connection as schedule is active");
+            }
+            Ok(ScheduleResponse::Shutdown) => {
+                warn!("session indicated shutdown during schedule check");
+                break;
+            }
+            Err(_) => {
+                warn!("session task terminated when checking schedule");
+                break;
+            }
         }
 
         match connect(&config, session_ref.clone()).await {
diff --git a/crates/hotfix/src/session.rs b/crates/hotfix/src/session.rs
index 0165324b..fc28d81a 100644
--- a/crates/hotfix/src/session.rs
+++ b/crates/hotfix/src/session.rs
@@ -9,7 +9,7 @@ mod session_handle;
 pub mod session_ref;
 mod state;
 #[cfg(test)]
-mod test_utils;
+pub(crate) mod test_utils;
 
 use chrono::Utc;
 use hotfix_message::dict::Dictionary;
diff --git a/crates/hotfix/src/session/session_ref.rs b/crates/hotfix/src/session/session_ref.rs
index 15aa3957..a6971465 100644
--- a/crates/hotfix/src/session/session_ref.rs
+++ b/crates/hotfix/src/session/session_ref.rs
@@ -82,16 +82,13 @@ impl<Outbound: OutboundMessage> InternalSessionRef<Outbound> {
         Ok(receiver.await?)
     }
 
-    pub async fn await_in_schedule(&self) -> Result<(), SessionGone> {
+    pub async fn await_in_schedule(&self) -> Result<ScheduleResponse, SessionGone> {
         debug!("awaiting in-schedule time");
         let (sender, receiver) = oneshot::channel::<ScheduleResponse>();
         self.event_sender
             .send(SessionEvent::AwaitSchedule(sender))
             .await?;
-        receiver.await?;
-
-        debug!("resuming connection as schedule is active");
-        Ok(())
+        Ok(receiver.await?)
     }
 }
 
@@ -110,3 +107,52 @@ impl From<oneshot::error::RecvError> for SessionGone {
         Self(err.to_string())
     }
 }
+
+#[cfg(test)]
+mod tests {
+    use super::*;
+    use crate::session::test_utils::create_test_session_ref;
+
+    #[tokio::test]
+    async fn await_in_schedule_returns_in_schedule_when_session_responds_in_schedule() {
+        let (session_ref, mut event_receiver) = create_test_session_ref();
+
+        tokio::spawn(async move {
+            match event_receiver.recv().await {
+                Some(SessionEvent::AwaitSchedule(responder)) => {
+                    let _ = responder.send(ScheduleResponse::InSchedule);
+                }
+                other => panic!("unexpected event: {other:?}"),
+            }
+        });
+
+        let result = session_ref.await_in_schedule().await;
+        assert!(matches!(result, Ok(ScheduleResponse::InSchedule)));
+    }
+
+    #[tokio::test]
+    async fn await_in_schedule_returns_shutdown_when_session_responds_shutdown() {
+        let (session_ref, mut event_receiver) = create_test_session_ref();
+
+        tokio::spawn(async move {
+            match event_receiver.recv().await {
+                Some(SessionEvent::AwaitSchedule(responder)) => {
+                    let _ = responder.send(ScheduleResponse::Shutdown);
+                }
+                other => panic!("unexpected event: {other:?}"),
+            }
+        });
+
+        let result = session_ref.await_in_schedule().await;
+        assert!(matches!(result, Ok(ScheduleResponse::Shutdown)));
+    }
+
+    #[tokio::test]
+    async fn await_in_schedule_returns_err_when_event_channel_closed() {
+        let (session_ref, event_receiver) = create_test_session_ref();
+        drop(event_receiver);
+
+        let result = session_ref.await_in_schedule().await;
+        assert!(matches!(result, Err(SessionGone(_))));
+    }
+}
diff --git a/crates/hotfix/src/session/test_utils.rs b/crates/hotfix/src/session/test_utils.rs
index d71becc0..a7e6cfae 100644
--- a/crates/hotfix/src/session/test_utils.rs
+++ b/crates/hotfix/src/session/test_utils.rs
@@ -1,5 +1,9 @@
 use crate::config::SessionConfig;
+use crate::message::{Message, OutboundMessage};
+use crate::session::admin_request::AdminRequest;
 use crate::session::ctx::SessionCtx;
+use crate::session::event::SessionEvent;
+use crate::session::session_ref::{InternalSessionRef, OutboundRequest};
 use crate::store::{MessageStore, Result as StoreResult};
 use crate::transport::writer::{WriterMessage, WriterRef};
 use chrono::{DateTime, Utc};
@@ -117,3 +121,31 @@ pub(crate) fn extract_field(raw: &[u8], tag: u32) -> Option<String> {
     }
     None
 }
+
+#[derive(Clone)]
+pub(crate) struct TestMessage;
+
+impl OutboundMessage for TestMessage {
+    fn write(&self, _msg: &mut Message) {}
+    fn message_type(&self) -> &str {
+        "TEST"
+    }
+}
+
+pub(crate) fn create_test_session_ref() -> (
+    InternalSessionRef<TestMessage>,
+    mpsc::Receiver<SessionEvent>,
+) {
+    let (event_sender, event_receiver) = mpsc::channel::<SessionEvent>(100);
+    let (outbound_message_sender, _outbound_receiver) =
+        mpsc::channel::<OutboundRequest<TestMessage>>(10);
+    let (admin_request_sender, _admin_receiver) = mpsc::channel::<AdminRequest>(10);
+
+    let session_ref = InternalSessionRef {
+        event_sender,
+        outbound_message_sender,
+        admin_request_sender,
+    };
+
+    (session_ref, event_receiver)
+}
diff --git a/crates/hotfix/src/transport/socket/socket_reader.rs b/crates/hotfix/src/transport/socket/socket_reader.rs
index 4e9ad0c9..3cdbcaab 100644
--- a/crates/hotfix/src/transport/socket/socket_reader.rs
+++ b/crates/hotfix/src/transport/socket/socket_reader.rs
@@ -84,42 +84,9 @@ where
 #[cfg(test)]
 mod tests {
     use super::*;
-    use crate::message::Message;
-    use crate::session::admin_request::AdminRequest;
     use crate::session::event::SessionEvent;
-    use crate::session::session_ref::OutboundRequest;
+    use crate::session::test_utils::create_test_session_ref;
     use tokio::io::{AsyncWriteExt, duplex};
-    use tokio::sync::mpsc;
-
-    #[derive(Clone, Debug, PartialEq)]
-    struct TestMessage;
-
-    impl OutboundMessage for TestMessage {
-        fn write(&self, _msg: &mut Message) {}
-
-        fn message_type(&self) -> &str {
-            "TEST"
-        }
-    }
-
-    /// Creates a test InternalSessionRef that captures events for verification
-    fn create_test_session_ref() -> (
-        InternalSessionRef<TestMessage>,
-        mpsc::Receiver<SessionEvent>,
-    ) {
-        let (event_sender, event_receiver) = mpsc::channel::<SessionEvent>(100);
-        let (outbound_message_sender, _outbound_receiver) =
-            mpsc::channel::<OutboundRequest<TestMessage>>(10);
-        let (admin_request_sender, _admin_receiver) = mpsc::channel::<AdminRequest>(10);
-
-        let session_ref = InternalSessionRef {
-            event_sender,
-            outbound_message_sender,
-            admin_request_sender,
-        };
-
-        (session_ref, event_receiver)
-    }
 
     /// Test that the reader correctly parses a valid FIX message and sends it to the session
     /// for processing.