A few questions about tools/functions in PS Elements

I asked my IT people to download a trial version of Elements onto my computer, but they said they can't, either because of some restrictions from our end or from Adobe's? (not allowing trial versions on a work computer because of the EUL?)

So, I'm hoping to get a sense if Elements will serve me instead of the full CC version. What I want to know:

Does PSE allow you to save in Photoshop file format, including layers? If not, does it allow TIFF with layers, or?

I want to be able to add text, arrows, shapes. Can I do this with PSE, and can I do it as layers?

I assume I can do basic photo edits, such as curves, levels, etc. Yes, and can I save as layers?

Thanks, David.