(a) The Board shall make a physical inspection of the location described in the application before issuing a license.
(b) Before the Board issues a license, the Board shall consider and determine as suitable:
(1) the moral character and financial responsibility of the applicant;
(2) the appropriateness of the location described in the application, taking into consideration the number of existing licenses; and
(3) the general fitness of the applicant to engage in the business authorized by the license.