The HSC exams in year 12 do not test you on what you learn in year 11. That being said, key concepts are often carried on (for example how intermolecular forces work in chemistry, trigonometry in maths, etc)
So in general, you will not be tested on the subject material in the year 11 syllabus...
Yep, it came in the mail 2 days ago. I believe there are 10 spots per faculty, and hence the top 10 ATAR's out of everyone who got shortlisted get the scholarship (per faculty, if that makes sense)