(1) The department shall conduct an examination of each title loan licensee's lending operations to ensure compliance with both statute and administrative rule.

(2) The examination shall consist of a comprehensive review of the records, operations and affairs of the licensee. The review shall include inquiry into:

(a) accounting and financial records;

(b) records of the borrower's files including:

(i) evidence of required disclosures;

(ii) use of the loan agreement on file with the department; and

(iii) assurance of continued bonding.