A:
Yes, it will definately handle a 3lber. Go by the line test limits. If it handles 12lb test, you can handle a 12lb fish if you had to. IF you had to. It is more geared to the 3lber though.
This is a high modulus rod so DON"T horse a large fish. Large fish at the high end of the line rating and no stretch line could spell disaster for the rod. I would use mono for it's forgiveness (streatch) if there was a high risk of picking up a 20lb catfish or carp.