(1) Examinations provided for in this chapter shall be authorized by the board.
(2) The board may by administrative regulation adopt standards and fees governing the application and all examination policies and procedures.
(3) The board may accept examination results from other states if:
(a) It is established that the examination is the same or substantially similar to the one adopted by the board; and (b) The candidate has met the prerequisite examination requirements of this chapter.
(4) An examination candidate who passes all sections of the examination shall apply for a license within five (5) years from the date the candidate successfully completed the examination. Failure to apply for a license prior to the expiration of the five (5) year period shall result in cancellation of the examination scores.