The only stupid question is the one not asked... now, I can't say the same for answers... but...

1. No you will not, if you listen to your instructor and drive within your limits
2. Read your insurance policy to find the exact answer (though its generally not a good idea to ask your insurance company). Generally speaking, as has been mentioned, most agencies cover non-competitive, non-timed events. However, some are starting to include clauses that specifically deny claims when the incident occurs on a racing surface, regardless of the circumstance.
3. Have your brake fluid flushed with new, preferably with a high-temp synthetic like Motul RBF600, AP Racing 550, ATE 200.
4. Yes... completely suitable off the showroom. Remember, you're not out there competing for anything. Your laps won't be timed (at least they shouldn't be).

Now... tell us about the event... who its with, where its at... some of that info could be important.

 

If you track your car or just in general? I haven't changed mine in almost a year, have one event down already, and may have two events in 8 days middle-end of June. Guess I'll change it before then!

 

If you track your Z, more than three or four times a year, you should flush the fluid at least once every 6 months. Here's why:

1. Tracking your Z creates more heat in the braking system than normal street driving. This heat creates air bubbles which will continue to allow more fluid compression, eventually leading to brake fade. The longer you leave the old fluid in, the quicker in any given session you'll experience this fade.
2. Brake fluid will absorb water, which lowers the overall wet boiling point. The water will boil sooner than the brake fluid, which in turn will create more air. Brake fluid also absorbs water from the atmosphere and environment. This is why you should never use old brake fluid that has been sitting in an opened container.

Flushing the fluid every six months is a good habit to get into, but not entirely necessary. But someone who tracks their car every two weeks might flush the fluid once a month or more.

There are so many factors that will determine when you need it that its not something to worry about when starting out. Just make sure it looks clean, bring an extra bottle or two, and listen to your instructors about how you should be using the brakes.

It will take a few sessions (if not a few events) to figure out what your car likes best in terms of braking technique. In general, brake later than you think, but stronger (at the same time, not jabbing the brakes so as to induce lock up.) ABS is a wonderful thing in this regard. But it may take a drive-off or two to really find the "threshold" of you and your car.

 

Wasn't it Q45 that said the boiled fluid also turn into acid ?

I'd bleed before and after to be sure...

 

Here is a quick brake fluid primer I wrote recently (second post). It is not a complete explanation, but it is a primer...

http://www.350zclubofflorida.net/topic.asp?TOPIC_ID=192

 

Thanks for the info. I'll probably do it before my next two events then. My last event down in the end of March my brake fade was bad, but this was after 8/10th 30 minute sessions. I have at least two more events coming up, probably another 1-3 after June. Sounds like a good habit to get into. Brakes are pretty important.