Hello Rad, and welcome to Seven Forums. Q1)
Windows 7 includes two different backup features. One is a System Image Backup
for a complete clone (copy) of your Windows 7 and selected hard drives and partitions to be able to restore them completely, and the other is to only backup your user and system files
(this tutorial here) to only be able to restore these files and not the entire Windows 7. If you create both backups, then yes you will have a separate "full image" and "user/system files" backups to use.
Q2) The system image backup feature does not have a schedule for it run. You can only run a system image backup manually. Only the user/system files backup runs on a schedule if you wanted it to. These backups are incremental backups when saved to the same location, so when the next scheduled or manual backup is ran, only changes made to the selected fiiles to be backedup since the last incremental backup will be saved in the new backup.
Hope this helps,