Best Answer - Chosen by the Asker
4- 'please' in the sense of 'Please do', 'you can have it' :
Prego, si accomodi = Please, come in
Prego, si sieda = Please, take a seat
Posso prenderlo ? Prego! = Can I take it ? Please, do!
5- Prego? in the sense of :
Pardon ?sorry?