When examining the log files from a Windows IIS Web Server, how often is a new log file created?

While collecting Active Transaction Logs using SQL Server Management Studio, the query Select * from ::fn_dblog(NULL, NULL) displays the active portion of the transaction log file. Here, assigning NULL values implies?

Which among the following laws emphasizes the need for each Federal agency to develop, document, and implement an organization-wide program to provide information security for the information systems that support its operations and assets?

The following is a log file screenshot from a default installation of IIS 6.0.

What time standard is used by IIS as seen in the screenshot?

In Windows Security Event Log, what does an event id of 530 imply?