OK, no problem. I understand as that is a long distance.
1) Yes, that is correct. The National Electrical Code requires a minimum of a 3 foot clearance from the service entrance conductors above the roof line on the riser mast
2) There will actually be 3 wires for the service entrance that extend from the pole to the service riser mast and will enter into the weatherhead. Two of those wires are insulated and those are the hot conductors or phase conductors that enter into the exterior meter. The bare stranded wire is the neutral conductor.
3) Normally, the local electrical codes require that the riser mast be rigid metal conduit along with all metal fittings. Gray electrical PVC conduit is allowed per NEC code to be used as a riser mast, but many building code officials will not allow PVC and will require rigid metal conduit for tensile strength purposes. The area where the 3 service entrance wires entering into riser mast is called the weatherhead. The portion on the weatherhead where the wire holes are located is made out of plastic.
Keep in mind that the area where the home is located may have local electrical codes enforced as well as the National Electrical Code. The local electrical codes can always over ride the NEC if local electrical codes were implemented and enforced.
4) Any chance that you will be at the home any time soon to take a photo or perhaps the real estate agent can send you a picture? Kinda difficult for me to comment on what you have in place unless I can view a picture:)
Your question here can remain open. I am logged on the web site every day. Once you reply back to me with a picture, I can then evaluate what you have in place and comment on the installation.