This is a question for your FFL as any waiting period would be a result of State and local laws.

IF your state has no waiting period, then one of two things can happen, 1) Your FFL runs your background check through NCIS and you leave with your gun, or 2) You live in a state where your FFL will ask if you have a carry permit, if you do, then he fills in the information on your 4474 with your CCW info and you walk out with your gun.

all gun purchases must follow the laws in YOUR state so if your state requires a waiting period or a permit for hand guns then yes it would be required

No waiting period on Long guns usually. Handguns no if you have a Purchase Permit/Concealed Carry Permit. Otherwise handguns have a wait period in most continental states.

It depends on which state you live in and if you're buying a handgun it a long gun. Long guns in most states no, hand guns in most states yes. If you have a concealed carry permit In your state the waiting period is usually waived. You might contact your local gun shop or sheriffs dept to get the specifics for your area. Hope that helps!