It is a little bit confusing, but if I understand the policy correctly, what they mean is that relevant practice experience shouldn't have been completed more than 7 years ago, e.g. say you are applying for the BCPS exam, you must have either:
Completion of three (3) years of practice experience, post-pharmacist licensure, with at least 50% of time spent in pharmacotherapy activities
or
Completion of a PGY1 residency
Per the Candidate's Guide, "Practice experience should not be more than seven years prior to the application date." Meaning, those three years of practice experience with at least 50% of time spent in pharmacotherapy could not have happened more than 7 years ago, or else you are not eligible. Does that make sense?
You should read the Candidate's Guide (
http://www.bpsweb.org/specialty-exams/candidates-guide/), and if you still have questions, contact BPS directly.