editing questions

I am trying to improve my editing skills and there are a couple of things i can’t figure out. I did look in the manual.

  1. What is the difference between “cut time” and “delete time” aside from the fact that “cut time” will copy the range to my clipboard?

  2. What is the purpose of “select in loop” and how would you use this in the real world? When I choose this function what is selected also includes the areas outside the selected parts if the any portion of these parts are within the loop.