Section 204. Applicants approved by the board as having met the age, character, education and experience requirements for licensure may sit for the licensing exam by filing an application with the board or its agent. Upon attaining a passing score on the licensing examination, an applicant must apply for a license within two years by paying the required fee and filing the proper application with the board. Failure to apply for a license within two years of taking the examination may result in the applicant being re-examined at his own expense. An applicant who fails the licensing examination may be re-examined by filing a new examination application fee with the board or its agent.