Yes it’s genuine. A scarce badge so great shame it’s in such poor relic condition. Still a good find.
I’d probably just stabilise it with WD40 to neutralise the active verdigris and prevent further corrosion.
You could try and go further dipping it in vinegar to remove the corrosion and patina but I expect you’d be left with a bright shiny badge with a considerably pitted and unevenly worn surface which would look very odd and never be the condition of a non-dug item.
I’ll leave question 3 to someone else.
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