(1) All new salesperson licensees are required to complete the new licensee mandatory continuing education requirement, commonly known as the 12-hour rookie course, within 120 days following their original license issue date. If no rookie course is offered within the 120-day period, the new licensee must complete the class when the class is next offered unless the new salesperson licensee's deadline for completing the rookie course is extended for good cause at the board's discretion. Only live in-person presentations of the rookie course will be approved by the board.

(2) For the first licensing year only, the rookie course will substitute for a salesperson's continuing education requirement. The regular 12-hour continuing education requirement begins in a new salesperson licensee's second year of licensing.

(3) A course provider which is approved to administer the approved 12-hour rookie course for new salesperson licensees may seek reimbursement for up to $2,000 of demonstrated losses incurred in providing and administering the rookie course. Compensation will be limited to reasonable expenses. Application for reimbursement must be made on board-approved forms which detail the nature and amount of losses.