The board is authorized to pass upon the good standing and reputation of any medical or osteopathic college. Only such medical or osteopathic colleges will be considered in good standing as possess a full and complete faculty for the teaching of medicine, surgery, and obstetrics in all their branches; afford their students adequate clinical and hospital facilities; have adequate curricula as determined by the board in its discretion; that fulfill all their published promises, requirements, and other claims respecting advantages to their students and the course of instruction; that exact a preliminary educational requirement equal to that specified by this chapter; that require students to furnish testimonials of good moral standing; and that give advanced standing only on cards from accredited medical or osteopathic colleges. In determining the reputation of the medical or osteopathic college, the right to investigate and make a personal inspection of the same is authorized.