It is the research of possible factor, hypothetical situations, sales, trends that might affect your future career (or even your company's future).
The amount paid regularly for insurance is called the premium.
The drive should be partitioned, mostly to wipe out any hidden partitions the manufacturer put on it. Then each partition needs a file system put on it.
Partitioning divides up a drive into sections that are logically separate. Putting a file system on a partition sets up the space of the partition so that a computer can use the space.