A registered nurse who has completed the education requirements for the advanced practice of a clinical nurse specialist and has registered for a national certifying exam recognized by the Board may practice in this State as a clinical nurse specialist graduate if the registered nurse has: A current license to practice registered nursing in this State or holds a multistate licensure privilege to practice registered nursing; Submitted a completed application for certification as a clinical nurse specialist graduate; and Submitted satisfactory evidence that the applicant has applied to take a national certifying exam recognized by the Board and has been accepted as a candidate for the exam. A clinical nurse specialist graduate shall practice under the direct supervision of a certified clinical nurse specialist. A clinical nurse specialist graduate shall cease practice immediately if the clinical nurse specialist graduate fails the required national certification exam as required in Regulation .02A(3) of this chapter. A clinical nurse specialist graduate who fails the national certification exam may continue to work as a registered nurse until the clinical nurse specialist graduate passes a national certifying exam for clinical nurse specialist.