Good qualities of an individualist requires self-reliance, self-control, time management, and extreme focus on one's self and goals. A collectivist would have to be able to take care of a large amount of people, good at managing more than one task at a time, able to work well with other people, outgoing, loyal, and friendly.
Regarding the excerpt, I think it's more individualism because it focuses on accomplishments (i.e. PhD, oldest) and determines an individual with their experience as oneself, rather than as a group.
A conflict that might occur were a collectivist teacher to teach a class of individualist students would be if a few kids in the class were the top speakers for the group, yet she called on people that relied more on the leaders of the class rather than being independent like the teacher.
An acquaintance is someone you associate yourself with, but don't have a close or emotional attachment to or relationship with. It could be both a positive and negative connotation because while one person wanting to be friends it could be negative, another might just want to be co-workers or merely acquaintances, which would have a positive connotation rather than just "a random person" you know.
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