Oh dear, that's not very impressive is it? Nor is your spelling, but anyway...
I have known either possibility happening; don't worry - they'll let you know which. IHT to FHT can be achieved relatively quickly given a continuous bout and good weather so it could well happen before IOT for you and would probably be for the best. If it happens the other way around your hours will most definitely still count (The RAF's pockets aren't exactly bulging at the moment).
As for the fitness, I think the female limits are lower than for the chaps - do a search for IOT on this forum