A. For US spec cars, Bank 2 is the driver side. And yes, sensor 1 is before the catalytic converter.
B. Yes.
C. Yes. You should use an O2 sensor socket. Be careful with the anti-seize. If you get it on the the sensor tip the sensor won't work properly. Most quality replacement sensors come with anti-seize already on the threads. If you feel you need more, use a copper high temperature compound.
D. The code should clear itself, but it may take a few driving cycles. Disconnecting the battery is the brute force method. A good code scanner will allow you to clear the codes.

You didn't specify the actual trouble code number. I strongly recommend you get a copy of the Service Manual and check the procedures for your specific code. Sometimes other problems besides the sensor can cause an O2 sensor code.

 

Thanks for info. Code was checked two different times at Advance Auto and then confirmed at dealer. Long story on that.
So should I confirm exact code or is that satisfactory to determine problem? How do you determine which bank or side is affected?
I keep getting different info on what is the correct side. Thanks

 

Bank 2 is the driver side (US), according to the Service Manual.

I would confirm the exact code. For my 2005 Z, DTCs P1051 and P1052 refer to the bank 2 sensor heater. DTCs P1281, P1282, P1283, P1284, P1286, P1288 and P1289 all refer to the bank 2 sensor itself. The sensor could be at fault, but the problem could also be a wiring issue, a bad injector, low fuel pressure, an intake air leak, or other problems.

As I said earlier, you really need a copy of the Service Manual to accurately troubleshoot the problem.