(1) Unless requested otherwise by the student and the student's family, a student who has completed high school courses before attending high school must be given high school credit that is applied to fulfilling high school graduation requirements if:

(a) The course was taken with high school students, if the academic level of the course exceeds the requirements for seventh and eighth grade classes, and the student has successfully passed by completing the same course requirements and examinations as the high school students enrolled in the class; or

(b) The academic level of the course exceeds the requirements for seventh and eighth grade classes and the course would qualify for high school credit, because the course is similar or equivalent to a course offered at a high school in the district as determined by the school district board of directors.

(2) Students who have taken and successfully completed high school courses under the circumstances in subsection (1) of this section may not be required to take an additional competency examination or perform any other additional assignment to receive credit.

(3) At the college or university level, five quarter or three semester hours equals one high school credit.