A:
Yes I believe that it is. There are many different versions of EIA.CEA-861 compliances however, so depending on your skill level and what you are using it for there could be different factors involved. Different standards of the CEA-861 define those factors such as video format, color depth, colorimetry and quantization, mode of transport, etc.
If you need more info check out this site, its got a great article regarding the EIA/CEA-861 compliance. (This website isnt in English, but if you type the webpage address into Google translates page it will take you to an English version of it).
http://www.fastweb.it/internet/hdmi-cos-e-e-come-funziona/
Hope this helps!