Metadata functionality - standard or API?

In looking at setting up and applying metadata I'm not sure if any of this is standard functionality or all has to be done by API? I don't see this being standard functionality based on review and research, but not sure if I'm missing something or this really is all done via API. Any help would be appreciated. Thanks!

Metadata

1. For a metadata drop down field - can list be imported?
2. For a metadata drop down field - can values be added/removed without impacting existing content?
3. Is there the ability to have cascading drop down values? For example, what I choose in the first drop down shows me a specific set of values in the second drop down vs 2 large list of drop down values.
4. Can metadata templates be applied to the folder level so it's inherited by all content instead of applying at the document level?
5. Can metadata fields be set as required?
6. Can you set default values at the folder level so all content inherits that value?