(A) A candidate for the CPA examination must complete the following educational requirements:

(1) One hundred fifty semester hours of college education.

(2) The accounting and business course requirements set forth in rule 4701-3-03 of the Administrative Code.

(B) The candidate may waive the requirement specified in paragraph (A)(1) of this rule provided the candidate meets the requirements of rule 4701-3-07 of the Administrative Code.