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In this video, Karen Magruder discusses the NASW Code of Ethics, which is crucial for social workers throughout their education and practice. She emphasizes the importance of acting ethically, adhering to personal morals, and ensuring the welfare of clients, colleagues, and employers. The NASW Code of Ethics is also significant for licensing exams, accounting for approximately 20% of the questions across different levels (bachelor's, master's, or clinical). Karen highlights that all social workers, regardless of membership status, are held to these ethical standards established by the National Association of Social Workers.