Short answers to your questions (though I would be happy to elaborate, to the extent I can, if you wish) is yes and yes.
I personally prefer to play out every game for my team in my primary save but a great many people mostly sim. And in some test leagues I have used to try out certain things I have often simmed ahead up to 10 years at a time. It takes awhile (depending upon your system, I guess) but is totally an option. But you can sim day by day, week by week, year by year, or really any increment of time you want (just sim up to a selected date.)
Have fun!
