Section 119. Each person desiring to obtain a license as a psychologist shall make application to the board upon such form and in such manner as the board shall prescribe and shall furnish evidence satisfactory to the board that such person:

(a) is of good moral character;

(b) has received a doctoral degree in psychology from a recognized educational institution;

(c) has engaged for the equivalent of at least two years full time, at least one year of which was before his receiving the doctoral degree, in psychological employment, teaching, research or professional practice under the supervision of or in collaboration with a licensed psychologist, or one clearly eligible for licensure in the opinion of the board;

(d) conducts his professional activities in accordance with accepted standards such as the Ethical Standards of Psychologists of the American Psychological Association; and

(e) has applied to participate in the medical assistance program administered by the secretary of health and human services in accordance with chapter 118E and Title XIX of the Social Security Act and any federal demonstration or waiver relating to such medical assistance program for the limited purpose of ordering and referring services covered under the program if regulations governing such limited participation are promulgated under chapter 118E; provided, however, that a psychologist who chooses to participate in a medical assistance program as a provider of services shall be deemed to have fulfilled this requirement.