ARC Practice Questions - ARC Associate In Regulation And Compliance Exam

What does the 'reverse preemption' provision of McCarran-Ferguson mean in practice?

Federal law always overrides state insurance law Federal laws of general applicability do not preempt state insurance regulation unless they specifically regulate insurance States can opt out of any federal regulation by passing a resolution The NAIC can preempt federal law through model legislation

Correct Answer:

Federal laws of general applicability do not preempt state insurance regulation unless they specifically regulate insurance

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