(1) To pass upon the qualifications and fitness of applicants for licenses and reciprocal licenses; and to adopt and revise rules and regulations requiring applicants to pass examinations relating to their qualifications as a prerequisite to the issuance of license.

(2) To adopt and, from time to time, revise such rules and regulations and policies not inconsistent with the law as may be necessary to carry into effect the provisions of this act. Such rules and regulations shall include, but not be limited to, standards for professional practice and a code of ethics for psychologists in the State.

(3) To examine for, deny, approve, issue, revoke, suspend, restrict, limit and renew the licenses of psychologist applicants pursuant to this act and to conduct hearings in connection therewith.

(4) To conduct hearings upon complaints concerning violations of the provisions of and the rules and regulations adopted pursuant to this act and cause the prosecution, impose civil penalties and enjoin any such violations.

(5) To employ, with the approval of the Commissioner of Professional and Occupational Affairs, a professional credentials evaluator to review applications.

(6) To waive examination and grant a license in cases deemed exceptional by the board and in accordance with board regulations.