Several questions about editing in Premiere

Hey all,

I have basic editing skills in Premiere and am trying to get more advanced skills. So I'm helping out a local non-profit. I'm trying to cut up a video but I have a few questions.

1. If I start a project in Premiere CS5, will I be able to edit it in other versions( 5.5 or 6)?

2. The video came with timecode on it. How do I remove it?

3. The video currently isn't taking up the fill screen. What am I doing wrong?

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Thanks