Limit settings in soap ui

Limit settings is unclear for me .. Can you please clarify the below scenarios ?

1 - If threads = 5 and Limit = 60 seconds then how many times My threads will execute, Does it depend on thread execution time ?

2 - If threads = 5 and total run = 12 , Does that means set 5 will execute 2 times and any of extra 2 threads execute last ?

 

3 - Is the maximum thread execution time set by default ?