To be eligible for license by the board as a speech-language pathologist or audiologist, an applicant shall:
(1) be of good moral character,
(2) possess at a minimum (a) a bachelor's degree or its equivalent and (b) a master's degree or its equivalent in the area of speech-language pathology or audiology granted by an educational institution which incorporates academic course work and the minimum hours of supervised training required by the national certifying body for speech-language pathology and audiology,
(3) have completed the period of supervised professional practice in the area in which the license is being sought required by the national certifying body for speech-language pathology and audiology,
(4) pass an examination approved by the board except that such examination may be waived by the board for applicants who hold a current and valid certificate of clinical competence in speech-language pathology or audiology from the national certifying body for speech-language pathology and audiology.