Hi Decaf,
Have you applied for the January deadline?
I had applied for the November deadline, and was asked 4 questions (similar to what you wrote) in December. And was eventually interviewed by telephone. And last week I received my accept, so you needn't worry about your chances being slim.
According my understanding, it's more like a shortlisting process. It might be so that they send an acceptance to amazing candidates directly, skipping these two steps. (Although I have no concrete proof of that!) But for everyone else, it's pretty much how it works!
Good luck with your application!