A person is qualified to receive a license as an examiner:
(1) Who is at least twenty-one (21) years of age;
(2) Who is a citizen of the United States;
(3) Who establishes that he is a person of honesty, truthfulness, integrity, and moral fitness;
(4) Who has not been convicted of a felony or a misdemeanor involving moral turpitude;
(5) Who holds a baccalaureate degree from a college or university accredited by the American Association of Collegiate Registrars and Admissions Officers or, in lieu thereof, has five (5) consecutive years of active investigative experience immediately preceding his application;
(6) Who is a graduate of a polygraph examiners course approved by the board and has satisfactorily completed not less than six (6) months of internship training, provided that if the applicant is not a graduate of an approved polygraph examiners course, satisfactory completion of not less than twelve (12) months of internship training may satisfy this subdivision; and
(7) Prior to the issuance of a license, the applicant must furnish to the board evidence of a surety bond or insurance policy. Said surety bond or insurance policy shall be in the sum of five thousand dollars ($5,000.00) and shall be conditioned that the obligor therein will pay to the extent of the face amount of such surety bond or insurance policy all judgments which may be recovered against the licensee by reason of any wrongful or illegal acts committed by him in the course of his examinations.