WAF rule execution order

I have a quick question regarding the WAF rules execution order:
In the “Rate limiting rules” tab we have set a rule to “Blocks IPs exceeding 80 requests per minute for one hour”
And in the “Tools” tab we have defined an “IP Access Rules” allowing a specific Country to access our server without restrictions.

Will the Cloudflare WAF execute the “IP Access Rules” first then stop if the IP is matching the Country or will it continue executing “Rate limiting rules” anyway ?

Thanks in advance for your help.

I believe IP Access Rules will bypass Rate Limiting, but I could be wrong.

This can be very easily checked by you if you set up a restrictive Rate Limit for a bogus URL and add your IP address as an Allow in IP Access Rules.