(1) The Arkansas State Medical Board by and through its rules will approve and designate the examinations to be given to those individuals who desire a license to practice medicine in the State of Arkansas. The board will further set forth the standards by rule for successful completion of the examination for licensure.
(2) Examinations for a license to practice medicine shall be held not fewer than one (1) time in each year at such times and places as may be specified by the board.
(3) If in the opinion of the board the applicant possesses the necessary qualifications, the board shall issue to him or her a certificate.
(4) If an applicant fails to meet the minimum grade requirements in his or her examination, he or she may be reexamined upon a filing of a new application and the payment of a required fee.