Sec. 911. The department shall issue a collection agency manager's license or a collection agency license to an individual who meets all of the following requirements: (a) Has a high school diploma or demonstrates to the satisfaction of the department that the applicant possesses the equivalent of a high school education. (b) Has had at least 6 months of full-time experience in the collection of accounts. (c) Has passed the examination approved by the department. (d) Is at least 18 years of age. (e) Is of good moral character.