A registered nurse who has completed a Board-approved educational program for nurse practitioners and who has applied to take a Board-approved national certifying examination may practice as a nurse practitioner graduate before certification in this State upon approval of the Board if the nurse has: Submitted a completed application for certification as a nurse practitioner in this State in accordance with Regulation .02 of this chapter; Completed a nurse practitioner education program approved by the Board; Presented evidence of submission of an application to take a Board-approved national certification examination; Provided the name of a certified nurse practitioner, who has an active unencumbered Maryland license to practice as a registered nurse or a multistate privilege to practice registered nursing, who will directly supervise the nurse practitioner graduate; and Paid all fees. If a certified nurse practitioner is not available in the graduate’s practice setting, as required in §A(4) of this regulation, a physician may provide this direct supervision if the nurse practitioner graduate provides the Board with the name of a certified nurse practitioner, who has an active unencumbered Maryland license to practice registered nursing or a multistate licensure privilege to practice registered nursing, with whom the nurse practitioner graduate has regular consultation. A nurse practitioner graduate who fails the Board-required examination shall immediately cease practice as a nurse practitioner graduate. An application for Maryland certification shall remain on file for a period of 18 months. During this time, applicants who have failed a national certifying examination may retake the examination and, upon proof of passing, may become eligible for Maryland certification.