1) The degree(s) is quite recognized internationally. As for the degree, don't worry too much for it. What you can do is much, much more important than what your degree is.

2) I think it is more dependent on your personal interest. As SMA's course is very tight and stressing. Don't expect to take on something like that if you are not interested in the area.

3) Check SMA's site for the official answer on similar problems.

4) A simple googling tells you a lot.