The board may grant a license to practice veterinary medicine to an applicant who:
1. Is a graduate of an approved college of veterinary medicine or has completed an equivalency program of veterinary medicine as established by the board by rule;
2. Passes the national board examination and clinical competency test, or the North American veterinary licensing examination;
3. Passes the state board examination;
4. Has no grounds for license refusal under section 43-29-14; and 5. Meets any additional requirements for licensure established by the board by rule.