1. Be at least eighteen (18) years of age before applying for a license and must not have a conviction for:

a) an act that would constitute a ground for disciplinary sanction under IC 25-1-11;

b) a crime that has a direct bearing on the individual's ability to practice competently; or

c) a crime that indicates the individual has the propensity to endanger the public;

2. Have a high school diploma or GED diploma

3. Have successfully completed an approved broker course of study as prescribed in IC 25-34.1-5-5

4. Apply for a license by submitting the application fee prescribed by the commission and an application specifying the name, address and age of the applicant, the name under which the applicant intends to conduct business, the address where the business is to be conducted, proof of compliance with subdivisions (2) and (3) and any other information the commission requires;

5. Pass a written examination prepared and administered by the commission or its duly appointed agent; and

6. Within (1) one year after passing the commission examination, submit the license fee established by the commission under IC 25-1-8-2. If an individual applicant fails to file a timely license fee, the commission shall void the application and may not issue a license to that applicant unless that applicant again complies with the requirements of subdivisions (4) and (5) and this subdivision