You should be able to find the config file for your kernel in the /boot directory. Look for the following settings:
CONFIG_PREEMPT_NONE ( = No Forced Preemption)
CONFIG_PREEMPT_VOLUNTARY ( = Voluntary Kernel Preemption)
CONFIG_PREEMPT ( = Preemptible Kernel)
CONFIG_PREEMPT_VOLUNTARY is a good compromise.
Yes.