Few questions from a new player

[Bixby]

2) If you're not the first person to strike it, but you do at least 1/3 of the damage to kill it, you also get full loot and kill credit (so mobs can end up dropping double or triple their normal amount of loot if multiple players are involved in killing them).

This is true for XP, quest items, and kill credit, but not the normal items dropped by enemies. Normal drops only go to the person/party with the tag (the first one to strike). No matter how much damage you do, you will not be getting that Beast Sinew unless the enemy is red to you.