The uses of a magnetic drill are that the fixing being screwed in with the drill will self hold to the drivers tip for ease of fixing. If you refer to a drill with a magnetic base then it sticks hard to metallic surfaces giving a solid hold while drilling.
To drill holes
No Scott a non-magnetic collar cannot be magnetized.
No Scott non-magnetic flex monels can not become magnetized.
Steering & Stabilizing
The uses of electro magnetic waves in medicine?
A drill instructor uses a meter stick.
People use drills to drill holes in pieces of wood(thick and thin pieces)
Old style carpenters do.
The only tool that uses drill bits is a drill. There are, however, many different types of drill bits. The drill bits vary by material, size, shape, and function.
Mollusks
No, a rotating masonry drill bit adjacent to a cable will not create a magnetic field and no it could not disrupt the electrical current within the cable .
To drill holes up to about 1/2 inch in wood, plastics and some metals.