Multiple choice:
question 2 is C 100%
question 4 is C: your answer is incorrect. the LIP is not due to an increased ability to clear lactate. it is due to H ion ACCUMULATION
Everything else is spot on.
im pretty sure its the ability to clear lactate, the definition a bit dicy to understand, it is specifically "the balance between lactate removal and entry into the blood"
as athletes get 'fitter' their ability to remove lactate from the blood improves, they still accumulate lactic acid however LIP specifically refers to the ability to remove it-- look at the 2007 exam report question 7 on multiple choice, it pretty much states it
and i agree with aleitu1 for Q2 that it should be a, it is the IMMEDIATE (within first few minutes) responses that you can "observe" following the race, you can not observe glycogen stores but i guess you can observe the temperature change and the decreased effects of hydrogen ions