1. Transformers are rated in Kilovolt-Amps (KVA) at a specified frequency and voltage, not in Watts, as the load power factor is unknown.
2. Efficiency is the ratio of output power to input power, expressed as a percentage. Some power is lost overcoming iron losses like eddy currents and hysteresis, and copper losses from resistance in the windings.
3. Copper losses vary with the square of the load current and can be measured using a short circuit test, while iron losses are fixed and measured using an open circuit test.