London school of Economics and Political Science (LSE) help

Hello. have a few questions.

  1. About 'usual standard offer'. If the program says the usual standard offer for IB diploma is 7,6,6 with math hl 7, is this a minimum requirement?
  2. If a program still accepts applications after deadline, does that mean there aren't enough applicants so the assessment process of this program could be quicker?

Thank you!