Answer: 1, the angle between the minute hand and the hour hand is 30 degrees.

(2)①30 × 1+30 ÷2

=30 + 15

=45

A: At 7: 30 pm, the angle between the hour hand and the minute hand is 45 degrees.

② The hour hand on the clock passes through 1 grid every hour, so it is 30 degrees, and the minute hand on the clock passes through a period every hour, so it is 360 degrees.

If the hour hand and minute hand on the clock are 120 degrees, it should be 4 o'clock or 8 o'clock sharp.

So the answer is: 30; 45; 30; 360; 4 o'clock or 8 o'clock.