Yes. The distal (lower end) fibula is also know as the lateral malleolus. The weber classification of ankle fractures classifies based on the location of the fracture (break) with respect to the syndesmosis (connection between tibia and fibula just above the ankle joint. A = below syndesmosis, b = at level, c = above. As you go from a to b to c, the risk of syndesmosis injury increases.
Yes. Yes. Depending on the displacement (if any), you could be placed into a cast for two months or surgery to fix it.
Yes. Yes. Distal fibula is the same as a lateral malleolis.
Fx. Yes but can be both medial and lateral with a weber b. Also common to have torn ligaments.