The National Association of Realtors instituted a Code of Ethics exam requirement for its members in 2001. The Code of Ethics is updated yearly, and all Realtors must take an exam on the code every four years.
The Two Tests
New members of the National Association of Realtors must take the New Member Code of Ethics Orientation and exam when they join the organization. Existing members must take the Quadrennial Realtor Ethics Training course and the exam pertaining to it within a four-year cycle.
Material Covered on the Code of Ethics Exams
The new member and existing member code of ethics exam cover basically the same material and include many of the same questions. The exam is a 25-question true/false exam covering subjects such as real estate licensing laws, definition of ethics, communication with other realtors' clients, misrepresentation of facts, protecting a property owner's interests, grievance committee procedures, accuracy in written documents and regulation of advertising.
How to Take the Exam
Realtors can take the required code of ethics training online at realtor.com after logging in with their National Realtor Database System number. After going through all the lessons online and taking the quizzes, they are able to take the final exam.