(A) EXAMINATION REQUIREMENTS. An individual applying to be registered as an investment adviser or investment adviser representative under the Act shall provide the [Administrator] with proof of obtaining a passing score on one of the following examinations:
(1) The Uniform Investment Adviser Law Examination (Series 65 examination); or
(2) The General Securities Representative Examination (Series 7 examination) and the Uniform Combined State Law Examination (Series 66 examination).
(1) Any individual who is registered as an investment adviser or investment adviser representative in any jurisdiction in the United States on the effective date of this Rule shall not be required to satisfy the examination requirements for continued registration, except that the [Administrator] may require additional examinations for any individual found to have violated any state or federal securities law.
(2) An individual who has not been registered in any jurisdiction for a period of two (2) years shall be required to comply with the examinations requirements of this Rule.
(C) WAIVERS. The examination requirement shall not apply to an individual who currently holds one of the following professional designations:
(1) Certified Financial Planner (CFP) awarded by the Certified Financial Planner Board of Standards, Inc.;
(2) Chartered Financial Consultant (ChFC) awarded by the American College, Bryn Mawr, Pennsylvania;
(3) Personal Financial Specialist (PFS) awarded by the American Institute of Certified Public Accountants;
(4) Chartered Financial Analyst (CFA) awarded by the Chartered Financial Analyst Institute;
(5) Chartered Investment Counselor (CIC) awarded by the Investment Adviser Association; or
(6) Such other professional designation as the [Administrator] may by rule or order recognize.