No, NPSHa is that head available at pump inlet after subtracting all suction line losses (your 40psi) , thus if you are sure somehow that NPSHa > NPSHr, it is so. NPSHa = 50+14.73-40-1 psi vapor pressure = 23.73 psia => 56.7 ft (of water), which is probably going to be more than enough suction head for your extreme example pump.
Yes, that's true. It would be rather (shall we say extremely) uneconomic (shall we say foolish) to design a 40psi pressure drop in suction to feed only a 100 psi pump discharge, but if discharge was 1000 psig, you're talking less than 4%, which might be an extreme condition caused by a small probability malfunctioning control valve snapping to minimum open limit, or simply not a bad safety factor, if you think you need one, which maybe you might want to have if you didn't actually do the calc. Its a thing of relative value and the OP did not give us anything we can relate to in that manner. So if you're sure that NPSHa > NPSHr ... you don't have to prove anything else. Of course you might not have an optimum design there, but maybe all you need is a pump cost estimate. There is little point to calculate things, or to a level of accuracy, more than you need to solve the immediate problem at hand.