Default values for text-based confirmation prompt

In text-based environments, I've sometimes seen confirmation prompts in the form of

Are you sure you want to _______? (Y/n)

Generally, I've understood this to mean that Y is the default, and if I hit something other than a Y or an N (such as hitting the spacebar, Enter, or even Q), it will use the Y option.

So, two questions from this:

  1. Is this display & behavior actually standard, or at least common? Or is it more typical to wait for a Y or N explicitly?
  2. Would the reversed form: Are you sure you want to ______? (y/N) be as understandable that the default is to not perform the action, and that Y must be explicitly hit to do so? And would (N/y) be clearer or more confusing?