1. It maybe a serial signal of 5V amplitude (with Rx, Tx and ground). Also it may be used simply to monitor open and closures of a switch.
2. The shield wire may or may not be used as a ground, it may be pulled high in some applications connected to the 5 volt wire inside the equipment terminals to which it will be connected. Also, a cable with three insulated conductors can be used.
3. They are carrying a single wire signal with ground reference (like RS232 but at 5V levels). Two applications will be used. A signal wire, data wire, and ground wire. Or two wires eventually shorted at a switch terminal and the remaining wire to the other switch terminal.
4. What is the characteristic impedance of the cable? I'm looking for a model to plug in these various cable parameters.
5. What is the resistance of each conductor over the 500' length? Same as above.
6. What is the capacitance per metre/foot between the twisted wires and the shield? Same as above.