Which one of the following is an argument for federal regulation of the insurance transaction?
A) If there were federal regulation, state regulation would still be required for intrastate transactions.
B) State regulation allows experimentation and isolation of bad laws.
C) Many states do not have enough trained people to regulate insurance efficiently.
D) All of the above
C
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Legislation that provided for the separation of commercial banking and investment banking activities in the United States is called
a. Garn-St. Germain Depository Institutions Act b. Glass-Steagall Act c. Hunt Commission legislation d. Depository Institutions Deregulation and Monetary Control Act
Any state or local law that "directly and substantially" conflicts with valid federal law is preempted under the ________
A) Supremacy Clause B) Commerce Clause C) Due Process Clause D) Free Exercise Clause