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(1) Before an individual may be licensed under this chapter, the individual shall pass a written examination that:
(a) meets the requirements of 12 U.S.C. Sec. 5104(d);
(b) is developed by the nationwide database; and
(c) is administered by an approved examination provider.
(2) The commissioner shall make rules made in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, that:
(a) require that an individual comply at a minimum with the standards of 12 U.S.C. Sec. 5104(d); and
(b) address:
(i) what constitutes passing a written examination;
(ii) the ability of an individual to retake a written examination if the individual fails the written examination; and
(iii) when an individual is required to retake a written examination if an individual fails to maintain a valid license under this chapter after taking the written examination.