Reciprocity or endorsement may be established at the discretion of the board. As used in this section the term “reciprocity” means the act of the board and a licensing authority in another jurisdiction, each recognizing that the requirements for a license or certificate in this Commonwealth and in the other jurisdiction are equivalent, issuing a license or certificate to an applicant who possesses a similar license or certificate in the other jurisdiction. As used in this section the term “endorsement” means the issuance of a license or certificate by the board to an applicant who does not meet standard requirements, if the applicant has achieved cumulative qualifications which are accepted by the board as being equivalent to the standard requirements for the license or certificate.