The FAA may issue a pilot school certificate with the appropriate ratings if, within the 24 calendar months before the date application is made, the applicant--
(a) Completes the application for a pilot school certificate on the form and in the manner prescribed by the FAA;
(b) Has held a provisional pilot school certificate;
(c) Meets the applicable requirements under subparts A through C of this part for the school certificate and associated ratings sought;
(d) Has established a pass rate of 80 percent or higher on the first attempt for all knowledge tests leading to a certificate or rating, practical tests leading to a certificate or rating, or end-of-course tests for an approved training course specified in appendix K of this part.
(e) Has graduated at least 10 different people from the school's approved training courses. [Doc. No. FAA-2006-26661, 74 FR 42563, Aug. 21, 2009, as amended by Amdt. 141-14, 75 FR 56858, Sept. 17, 2010]