(a) In addition to proof of honesty, trustworthiness and good moral character, each applicant for a first real estate broker's license shall pass a written examination prepared by or under the supervision of the Commission. The examination shall be offered at such times, not less frequently than semiannually, and at such places within the Virgin Islands as the Commission shall prescribe. The Commission shall require proof that the applicant has actively participated in the general real estate brokerage business as a licensed real estate broker for a period of not less than two years or that he has had the equivalent experience in general real estate business for a period of at least two years. The nature of such experience shall be established by affidavit duly sworn to under oath and/or other and further proof required by the Commission, or that he has actively participated in the general real estate brokerage business as a licensed real estate salesman under the supervision of a licensed real estate broker for a period of not less than one year and has attended for at least forty-five hours and has successfully completed a real estate course or courses approved by the Commission as to method and content and supervision, which approval may be withdrawn if in the opinion of the Commission said course or courses are not being conducted properly as to method, content, and supervision; Provided, That the requirement of a course or courses in real estate shall be waived by the Commission if same are not available locally through an accredited educational institution or otherwise within the Virgin Islands.
(b) In addition to proof of honesty, trustworthiness, and good moral character, each applicant for a first real estate salesman's license shall pass a written examination prepared by or under the supervision of the Commission. The examination shall be offered at such times, not less frequently than semiannually, and at such places within the Virgin Islands as the Commission shall prescribe; Provided, That the Commission may issue to an applicant for a salesman's license, upon the written request of his employer, who shall thereby express willingness to stand responsible for the acts of such salesman, a temporary permit which shall be valid for a period of six months, pending a written examination. Not more than one such permit shall be issued to the same applicant during the same license term. The authority to act under said temporary permit shall terminate upon the expiration date thereof or as of the date when the holder thereof successfully qualifies for a real estate salesman's license by written examination pursuant to the terms of this section; Provided, That any person who submits satisfactory proof to the Commission that (1) he has been employed as a real estate salesman by a licensed real estate agent in the Virgin Islands for not less than ninety days immediately prior to May 4, 1967, and (2) he otherwise meets the requirements for a license as a real estate salesman, may obtain such a license without examination, provided that application therefore is submitted to the Commission prior to December 1, 1967, and he is employed by a licensed real estate agent or broker on the date of such submission.
(c) The examination for a real estate broker's license shall be designed to demonstrate that the applicant has an adequate understanding of the general purposes and the general legal effects of deeds, mortgages, land contracts of sale, and leases and an adequate understanding of the obligations between both principals and the agent in a real estate transaction, as well as the provisions of this Act. The examination for a real estate broker's license shall be of a more exacting nature and scope and more stringent than the examination for a real estate salesman's license. An applicant who has failed twice in succession to pass the examination shall not be eligible for a further examination until six months have passed. Notwithstanding the foregoing, any person who submits satisfactory proof to the Commission that he was licensed as a real estate agent in the Virgin Islands on May 4, 1967, shall be issued a license without examination, provided that application therefor is made prior to December 1, 1967. The Commission shall publish information to this effect in newspapers of general circulation in the Virgin Islands.