(a) The director may by rule or order impose an examination requirement upon an applicant or class of applicants for licensing under this chapter. (b) An examination may be administered by the director or a designee of the director. An examination may be oral or written or both and may differ for each class of applicants. (c) The director may by rule or order waive an examination requirement imposed under subsection (a) as to a person or class of persons if the director determines that the examination is not necessary for the protection of investors.
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