A: Yes a lock with a 1/4 inch shank will fit.
A: Hi, Olucy - Yes a .24" shank will fit. The actual hole is .3".
A: Hi, GSpr - The brass component is threaded on to the hose threads on your spigot and tightened down plugging the outlet of the spigot. The chrome cap (with the slot) goes over the brass part and the padlock is inserted through the exposed slot. This prevents others from accessing the outlet and, despite the fact that the spigot may be on, no water would come out because is it plugged. Hope this explanation helps. An overview is provided on the hd.com website listing. Thanks.
A: Hi, LarryS - Apologies for the delayed response. Unfortunately ConservCo does not offer an option for additional keys.
A: The lock isn't the highest quality, so just use your own lock and key set. Alternatively use a combination lock, which is how we do it on our rental property. It allows contractors like lawn maintenance water the lawn without having to have a set of keys.
A: All components are made of metal.
A: The padlock is made entirely of metal, as are the cap and knurled thread cap.