Yes, used carefully it will cut both.
It may be easier to simply cut out the section of conduit and replace it.
To cut cable.
No <<>> The NO answer above pertains to a metallic or PVC conduit system. In home wiring, with the type of wire being used it would be near impossible to drag a cable through a switch or receptacle junction box without cutting the cable. Once this cable is cut, the grounds have to be spliced together and this ground wire is then required by code to be grounded to the box.
cut, slice, hack, saw, um...
Hack is the word.
cut the cable or disconnect the cable from the calipers
It depends on what you mean by 'hm' which is not stated in the question.
A simple hack saw will get the job done.
No, that cable is connected to ground, so it cannot short out.
To cut a heavy duty cable you can use a tool made by Klein tools called a Ratchet Cable Cutter (10 inch). This tool is sold at Graingers and cost about 326.00.
tumble
It depends on whether the building classification is combustible or non combustible. On a new commercial building wiring is usually designed by an electrical engineer. In this case the wiring is done to their specifications. On a rewire of a commercial building BX cable can be used behind wall board. The reasoning is that most commercial buildings these days use steel studs. Dragging ordinary NMD wire through these types of studs can cut the outer sheath. In some jurisdictions steel stud bushings have to be used when a steel stud is hole punched. By using this type of wiring cable, rigid conduit or EMT does not have to be used.