The board by rule may waive all or part of the examination requirement for an applicant for the issuance or reissuance of a license under this chapter. The board may not waive the requirement unless the board first determines that:
(1) the applicant possesses sufficient qualifications to justify the waiver; and
(2) issuing or reissuing the license to the applicant does not pose a threat to the public health, safety, or welfare.